15 to 20% of GCC firms to freeze pay hike, benefits

15 to 20% of GCC firms to freeze pay hike, benefits

According to a recent report by an organizational advisory firm, employees in the UAE will receive modest or no increase in their salaries and bonus payouts next year as companies are getting cautious about spending more money on staff wages amid the economic slowdown. Nearly 15-20 percent of companies in the Gulf Cooperation Council (GCC) region set to see frees on wage adjustments and workers in the UAE to receive lowest wage earnings. The study found that growth in real earnings in GCC countries will average 2.3 per cent. The highest will be in Oman, at 3.1 per cent, followed by Qatar (2.9 per cent), Bahrain (2.7 per cent), Saudi Arabia (2.6 per cent) and Kuwait (1.6 per cent).

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