Dream Jobs In Dubai Dry Up

Until only a few months ago, many executives from developed economies viewed the Gulf as bolthole to ride out the global economic storm.

Now the axe is falling heavily on the staff of Dubai real estate companies as a six-year property bubble finally bursts, while similar cost-cutting measures are sweeping through the investment banking community.

Morgan Stanley, Credit Suisse and Goldman Sachs have already cut about 10 per cent of their regional staff as the prospects for next year's fees dim with the oil price slump.

Read the whole story here.

Comments

[DubaiJobs]

I've been a recruiter in Dubai for the past 12 months. It is still very much a jobseekers market. You will need to have specialist skills not easily found in lower cost markets link India or Eygpt, but if you do you will find that the tax free salary you can command in Dubai or Abu Dabi (90 minutes drive from Dubai) will usually exceed what you can get anywhere else for a similar position. To find out if there are jobs that match your skills take a look on www.recruitgulf.com the largest job board in the UAE

[kstuff]

My mother-in-law took a job in Dubai, after not being able to make a decent wage in Detroit. And now Dubai is drying up. Will we all need to follow the money soon? I guess that makes for a bull market in the relocation sector.

[spiderbucket]

Helter Skelter is coming down fast.