Al-Khodari expects labour reforms impact to decrease from H2 | Al-Khodari expects labour reforms impact to decrease from H2 -
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Al-Khodari expects labour reforms impact to decrease from H2

: Sunday, April 13 - 2014 @ 01:40

Saudi construction firm, Abdullah A M Al-Khodari Sons has said labour reforms introduced by the kingdom are expected to continue to weigh on its bottom line for a few more years, but the situation will start improving in the second half of 2014, Reuters has reported. Al-Khodari, which has about 17,000 employees, now includes the cost of the reforms in the new contracts it signs, but it still feels some negative effect, as it works through contracts signed before the reforms were introduced, said the company’s chief executive, Fawwaz Al-Khodari. This effect will “drag on for a few more years”, but it is steadily decreasing, he said. “2014 will have a mix of old and new business, but I think by the second half of this year we will be coming out of the rot and the damage we’ve been having in the last couple of years, and we should be witnessing an improvement reflected on our bottom line,” he said.

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Sunday, April 13- 2014 @ 1:40 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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