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

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 they 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.