UAE: Number of employees in banking sector down
The number of workers who were fired in the UAE banking sector during the past 18 months is estimated at 3062 employees. Their total number fell from 39,589 employees in December 2008 to 36,527 as od June 2010, in time. This came despite the fact that during the said period the number of new branches reached 85 branches , increasing the sector's branches from 614 to 699, according to statistics, the UAE Central Bank.
The decline in the number of employees is related to several factors, the most prominent - the repercussions of the global crisis and declining demand for banking services as well as the tendency of banks to automate systems and operations.