PNN – The UAE, as a major victim of its participation in the war against Iran, has intensified its layoffs.
According to the report of Pakistan News Network, citing the website Semafor, the number of Emirati companies planning to reduce their workforce has more than tripled to 25 percent, compared to 7 percent three months ago.
Geopolitical factors (war against Iran) and economic uncertainty are the most cited reasons by employers who plan to reduce their workforce.
The logistics and trade sectors have been hit hardest by the closure of the Strait of Hormuz.
The range of changes in the UAE has experienced more extreme fluctuations than any other country in the region.