Sunday, March 24, 2013

At least 2m expats in Saudi to lose jobs - report


At least 2m expatriates in Saudi Arabia could soon lose their jobs, with about 250,000 companies yet to meet Saudisation quotas days before the deadline, according to local media.

The small and medium-sized firms classified under the kingdom's Saudisation programme, 'Nitaqat', as being in the ‘red category’ have until Wednesday to hire at least one Saudi national or risk their employees not having work permits renewed.

The measure is part of the kingdom’s push to reduce unemployment among its own population, particularly youth and women.

The Nitaqat system, introduced in 2011, involves a system of rewards and punishments for the country’s 800,000 registered private companies, depending on how well they meet quotas for the number of Saudis on their payroll.


Read more: http://www.arabianbusiness.com/at-least-2m-expats-in-saudi-lose-jobs-report-495107.html

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