50,000

[mikeh]

Just read that a major contractor in Dubai laid of 50,000 people. Guess we won't be seeing any sims coming out of there for a while.
mh

[Neilg]

What do you mean by sims?

Its all asian/indian construction workers

[mikeh]

sims are architecture/engineering/construction simulations of proposed projects.
No construction, no simulations.
mh

[glorybound]

What kind of company has 50,000 people? Layoffs don't always mean things are tanking. A lot of times cooporate aquistions cause layoffs. The company is sold and the new owners trim the fat.

[Neilg]

What kind of company has 50,000 people? Layoffs don't always mean things are tanking.

Things are tanking for them though. http://www.wsj.com/articles/saudi-bi...ite-1462193499

[glorybound]

Ouch! That stinks and I hope those workers find work someplace else.

[mikeh]

Things have been tanking worldwide for the last twelve months or more for certain sectors. A mining Giant in Australia laid off 43,000 about 6 months ago.
Oil dependent companies and oil dependent economies worldwide are dropping people and going bankrupt.(Because of the oil war between Saudi Arabia and Iran)
Mining companies worldwide are going bankrupt. (Because China's fake growth bubble has finally burst and China's demand for raw materials has plummeted).
Shipping companies (the ones that ship overseas in those huge monster ships) are hurting because of the lack of commerce.
mh

[glorybound]

Well, I hope all you guys keep a steady flow of work.