May 6, 2020 / 7:39 AM / 20 days ago

Nakheel reduces some staff salaries by up to 50% - internal email

DUBAI, May 6 (Reuters) - Dubai state developer Nakheel has cut salaries by up to 50% to help it weather the coronavirus pandemic, according to an internal email seen by Reuters.

A Nakheel spokeswoman confirmed to Reuters that some wages were revised in April though did not say by how much.

Nakheel’s long-serving Chief Executive Sanjay Manchanda stepped down on March 1 to pursue new opportunities, the spokeswoman also said.

Reporting by Davide Barbuscia and Alexander Cornwell, editing by Louise Heavens

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