Global Analysis from the European Perspective. Preparing for the world of tomorrow

Saudi Arabia to cut private sector salaries by 40%

The decision also allows companies to terminate employee contracts after six months of the coronavirus pandemic period. Saudi Arabia has issued a ministerial decision allowing private sector companies to cut salaries by up to 40 per cent, according to media reports, citing daily newspaper Asharq al-Awsat. The directive also allows the possible termination of contracts in view of the economic challenges in the aftermath of the Covid-19 spread. Source Gulf Business

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