»»Retailcorp cuts workforce
Retailcorp, an Istithmar group company, has said its workforce has been reduced by 3%, amid a slowdown in the retail sector, Reuters has reported. The firm has two shopping malls in Dubai; the Ibn Battuta Mall, and DragonMart, a trading centre for Chinese products. The group now has approximately 600 staff. Dubai’s retail sector has suffered from the impact of the global financial crisis, with sales dropping as much as 30% in 2009.
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