Temporary pay cuts and 4-day work week are the new norm as firms go for cost cuts.
With the gradual reopening of the UAE economy, hiring for jobs is once again ticking up, but with a twist in the tale.
Companies recruiting new employees now are offering a 15 to 20 per cent lower salary package than what they offered during the pre-Covid-19 period.
Consultants also maintain that temporary pay cuts and a 4-day work week are the new norm for some firms as they eye a tighter control on their costs.
They said the market dynamics is being dictated by the fact that expatriate jobseekers would want to settle down quickly in the UAE even with a lower salary to avoid moving back to home country. At this stage, it’s an employer’s market with job losses in key sectors in the UAE.