Despite of economic uncertainty UAE businesses and their counterparts across the Gulf are going through a painful period. Leading banks and key sectors in the UAE are going through restructuring process to overcome the market uncertainties and stay afloat at a time of mounting economic uncertainty. Companies across sectors and businesses in the UAE are doing workforce optimization processes in response to slower market activity. Some private sector companies also changing their hiring focus from full time to contracting resources. What we're seeing in other industries, and for the most part across the board, are containment measures, such as a reduction or freeze in recruitment, lower salary increase budgets, or a refrain in promotions. Said CEO of Middle east consultancy.
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