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Mashreq lays off 4pc of workforce

Dubai, February 5, 2009

Dubai-based bank Mashreq said on Thursday it had laid off four per cent of its workforce in response to new economic challenges.

"The affected employees were selected due to either their role being no longer viable, or as a result of performance assessments," the bank said in a statement, without saying how many employees it let go.

"Mashreq has moved swiftly to respond to the challenges of the year ahead," it added.-Reuters




Tags: Mashreq bank | lay off |

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