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Emaar Properties cuts salaries of board members, employees

Emaar Properties cuts salaries of board members, employees
Emaar Properties' chairman has seen a 100% salary cut
Emaar
EMAAR
-1.07% 8.29 -0.09

Dubai – Mubasher: Emaar Properties has decided to cut the salaries of the board by a range from 30% to 100% due to the precautionary measures against the coronavirus (COVID-19) pandemic.

The salary reduction has been effective since the beginning of April, according to the company's letter to employees seen by Mubasher.

Emaar Properties' chairman, Mohamed Alabbar, has seen a 100% salary reduction.

Meanwhile, the salary of the senior management, middle management, and junior staff has been deducted by 50%, 40%, and 30%, respectively.

The support staff working full-time will not see salary deduction, while those who are on leave or not currently operating will take 15% of their salaries, in addition to accommodation and medical benefits.