A new salary structure will be implemented April 1 onwards, until further notice
Chairman of Dubai-based property developer Emaar, Mohamed Ali Alabbar, has taken a 100 per cent salary cut, in response to the fallout of the Covid-19 pandemic.
In a copy of the email obtained by Gulf Business, the chairman told his employees that effective April 1, 2020, Emaar Dubai will implement, until further notice, a new salary structure across all levels.
- Chairman – 100 per cent reduction of full salary
- Senior management (Grade 13-9) – 50 per cent reduction of full salary
- Middle management (Grade 8-7) – 40 per cent reduction of full salary
- Junior staff (Grade 6-4) – 30 per cent reduction of full salary
- Support staff (Grade 3 and below) – No reduction for staff working full time on this period.
However, support staff on leave in the hospitality sector will be given full accommodation and medical, with 15 per cent of their cash salary. In other entities, they will be given 60 per cent of their full salary.
“Despite the unanticipated emergence of Covid-19 that disrupted all aspect of our lives, I still believe that this too shall pass,” Alabbar said in the email.
“I would like to assure that our people remain on top of our priorities. Taking all circumstances into consideration, I remain optimistic and I am confident that this is only a temporary phase,” he added.
Effective March 23, Emaar Group adopted a work-from-home policy for its employees with the company’s customer channels operating 24/7.
On March 10, Emaar said that it would stop taking bookings at three of its hotels – Address Fountain Views, Vida Creek Harbour and Vida Emirates Hills – from March 15 to August 31 as the Covid-19 coronavirus situation hit demand at its properties.