Corporate Affairs and HR layoffs started yesterday.
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Sorry, I was typing fast on my phone calculator ,,, must have entered .15 while I meant .30 so chill out ya scientist:
12k * 0.15 (15%) = 1.8 k
Last time I checked 30% of 12k was 3.6k and 15% of 12k was 1.8k
800 is therefor 6.67% of 12k.
Maybe Basic maths classes before your next post eh?
If said Saudi expat in US had skills/knowledge/experience above and beyond that of the local US employee then probably paying said Saudi more than a US employee would be appropriate and acceptable.
This however is purely a hypothetical argument as there is no chance any said Saudi would ever have this level of ability or knowledge to offer outside the magic kingdom..
Just curious how many saudis working in the US and do they get higher pay if so would Americans be happy about pay difference of course not
There is a reason they are all called “ Expat” genius ... they don’t have any rights or privileges of a “ Saudi” they can be kicked out anytime out of here for any reason. Does the same happens to Saudi ??? And someone said in another thread would a Saudi take just local salary when sent on Chapter 8 ?? I figure not. So stop with your b—s— argument.
@4fra+15BYZrEU Let’s be fair and objective here for a second, if expats demand similar job security of local citizens, are expats willing to settle for similar salaries as Saudis ? Will expats invest the majority of their income into Kingdom’s national economy similar to Saudi employees? off course not! Equality in rights means equality in obligations.
They should also lay off non performing Saudi staff. Some do not even turn up until 10am. Most are inexperienced and their high IQ been over sold. Recent training programs, which were apparently marketed as creating Saudi professionals with capability of 10 years experience in only two years on the job training in which expats did their projects and they took credit. Anyway, party is over hence if you survive this then plan to exit in an organized fashion.
@ @3wlg+15BYZrEU “you get what you pay for” that’s not always true, sometimes a few mediocre job applicants somehow pass through the ineffective hiring process and once they’re in, they’ll stay for many years on the payroll without anyone monitoring, measuring their productivity and regularly evaluating their retention worthiness. So, no my friend, companies don’t always get what they pay for. Expats salaries should be reflective of their actual “skillset”, “productivity” and “$ value” they add to the company pocket during their employment” not only based on a degree, nationality or # of yrs of experience they have on their ten-page long resume.
@3ftz you get what you pay for, there is a good reason why some expats are expensive and why they seek (and often get) packages that you call 'astronomical' (i'd call it 'good pay' but far from 'astronomical')...
Anyhow, if the shareholders want cost savings, it's OK to cut expenses and expats should not be an excepton. If you feel you wil be better off and things can be done well with less expensive resources, hallelujah! Go for it...
You can make the sam argument in many companies and different industries, e.g., why does Google need to pay 150K / year for fresh graduates. Everything has a price.
After +10 of working with hundreds of expats both directly and in directly (seeing their work first hand), I can conclude the following with high confidence, more than 30% of the expats whom I worked with are absolutely overrated, their output quality and quantity is mediocre and below the expected return of paying expats astronomical salaries, medical, educational and accommodation benefits and perks for them and their independents. I am pretty confident those low performing 30% are dispensable but they have to be selected accurately so that the “indispensable” irreplaceable expats are retained. This is my sheer personal rough estimation. If we assume there currently 12k expats on the payroll, 30% of them equals 1.8k to be laid off. 800 layoffs sounds like a very reasonable target which is approx 15% of total expats. You can only imagine how much cost will be saved or redirected to hire thousands of other qualified yet way less expensive nationalities or Saudis to fill these jobs. Economics 101.
Will asia offices be affected?
What's all the fuss about, we all knew it was coming down the track and was only a matter of time before they pushed the button as a result of the failure or otherwise of the IPO and the mishandling of the Oil price.
Metrics, in comparison with competitors and the local Saudi Market, suggest a reduction of about 20k in workforce, with it being phased in over the year due to logistical pressure.
Advice - look after yourself and your family by planning for an exit especially if you survive this round.
figure is 100% overstated
I heard that originally it was going to be 1,200 but CEO reduced it to 540. However, I wouldn't be surprised if it does indeed hit 1,200 given the number of people I'm aware of that have been laid off. I know for a fact that layoffs are still continuing today.
Please be sure of the numbers before posting it don’t make people panic.