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FINANCIAL NEWS
Saudi Al-Khodari plans labor reforms in 2014
10 Apr 2014
(MENAFN) Major Saudi Arabian construction firm Abdullah A. M. Al-Khodari Sons plans to keep work line on its bottom for a few more years through labor reforms, though the situation is expected to improve in the second half of the current year, according to Arab News.
Al-Khodari introduced USD639.87 levy annually for every foreigner which a company employs above the number of its Saudi workers.
Al-Khodari’s workforce includes 17,000 employees. The company”s margins were eroded by more than 50 percent as the labor reforms were introduced.
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