Many companies in Dhammam are stopping overtime payment or restricting additional working hours in view of the impact of the global economic crisis. Even companies still unaffected by crisis are taking the precaution of cutting operational costs. Some companies are considering giving workers the option of either accepting a pay cut or being fired. The measures may seem harsh but they are in line with what companies the world over are doing as profits fall from diminishing business. “Our company has not had the same profit this year as in the past,” said Ashraf Ali, an executive in a major manufacturing company in Jubail. He revealed that his company has stopped overtime payments “because we have fewer export orders than last year.” Most company owners say the cost cutting measures are temporary, until the situation becomes clearer.
OVERTIME NO MORE
Many companies in Dhammam are stopping overtime payment or restricting additional working hours in view of the impact of the global economic crisis. Even companies still unaffected by crisis are taking the precaution of cutting operational costs.
