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Saudi Arabia: Workers set fire to buses after '50,000 sacked and salaries not p
invite response
2016 May 1, 11:59am 1,780 views 7 comments
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Strategist
2016 May 1, 4:53pm
Reports say the company, set up by the father of al-Qaeda leader Osama Bin laden, is in $30 billion worth of debt due to falling oil prices.
How does a construction company get in a $30 billion worth of debt due to falling oil prices?
MisdemeanorRebel
2016 May 1, 5:31pm
Bring in Nepalese/Indian workers. Take their passports. Don't pay them. Tell India to suck it or no oil for those Hindu Haram Shirk Infidels
Strategist
2016 May 1, 5:43pm
I love it when the Saudis are taking an economic beating. Those lazy, terrorist supporting bastards need to work for their own living.
indigenous
2016 May 1, 5:43pm
How does a construction company get in a $30 billion worth of debt due to falling oil prices?
It is called deflation. IOW people don't build roads and shipping ports and oil rigs when the price of oil is less than it costs them to produce.
Strategist
2016 May 1, 5:47pm
How does a construction company get in a $30 billion worth of debt due to falling oil prices?
It is called deflation. IOW people don't build roads and shipping ports and oil rigs when the price of oil is less than it costs them to produce.
OK, that reduces their sales. But how does that get them into debt, unless it was a badly managed company?
indigenous
2016 May 1, 6:03pm
OK, that reduces their sales. But how does that get them into debt, unless it was a badly managed company?
I'm a thinkin it might be?
You may be slow to layoff people worrying about replacing them, work completed on contracts goes unpaid as everyone in the oil sector is hurting, they don't have Osama around any more to blow up buildings and make work? etc etc
Workers at a major Saudi construction firm have set fire to nine company buses in protest over thousands of sackings and their salaries not being paid.
Employees at Binladin Group have staged several demonstrations within Saudi Arabia’s Mecca region in recent weeks, with some claiming they have not received their wages for six months.
The attack on the company buses came after Saudi Al-Watan newspaper reported the company had laid off 50,000 foreign employees and issued them exit visas.
Spokesperson for Mecca’s Civil Defense Major Nayef al-Sharif said no injuries were caused by the fires, and that firefighters had put out the blaze.
Reports say the company, set up by the father of al-Qaeda leader Osama Bin laden, is in $30 billion worth of debt due to falling oil prices.
http://www.independent.co.uk/news/world/middle-east/saudi-arabia-workers-set-fire-to-buses-after-50000-sacked-and-salaries-not-paid-a7008931.html
#saudi #politics