Daily Recession covers the world as it goes into recession. The financial crisis, stock market crash, bankruptcies, job cuts, and the turmoil that follows.

Gulf Air Fires 200 Staff, Sees drop in Bookings Due to Unrest

Posted: May 31st, 2011 | Author: | Filed under: By Location, UAE | Tags: , | No Comments »

Gulf Air, Bahrain’s state-owned carrier, fired 200 employees and reported a 25 percent drop in bookings in the first five months of the year because of unrest in the Middle East.

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Mashreq Bank cuts 175 jobs

Posted: February 5th, 2009 | Author: | Filed under: By Location, UAE | Tags: , , | No Comments »

Mashreq has announced that it has axed up to 175 staff, four percent of its global workforce, to reflect reduced market activity.

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