Noon sees Dubai employees let go, sources unveil

Sources close to the matter reveal employees based in Dubai were let go amid delays to rolling out the app

Tags: E-commerce
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Noon sees Dubai employees let go, sources unveil Noon said: "Due to the shift in our operational base and the need for even greater efficiencies, there have been nominal staff reallocations and changes."
By  Aasha Bodhani Published  May 21, 2017

Sources close to Noon, an e-commerce venture between Emaar Properties chairman Mohamed Alabbar and Saudi Arabia Public Investment Fund (PIF), revealed dozens of employees in Dubai were let go amid delays to rolling out the app.

Bloomberg reported that employees from various departments, including contractors and vendors were let go, however some hiring is still taking place.

In an emailed statement, Noon said: "Due to the shift in our operational base and the need for even greater efficiencies, there have been nominal staff reallocations and changes. Any rumours to the contrary are exaggerated and incorrect."

The sources, who did not want to be identified, also said that Alabbar informed employees that chief executive officer Fodhil Benturquia no longer worked at the company. Noon did not address this in the emailed statement, citing it does not comment on internal matters.

In a statement on 16 May, Alabbar confirmed that Noon will go live this year and will be based in the Kingdom of Saudi Arabia. The Emaar chairman also touched upon a new management team to spearhead ongoing plans and that whilst Noon is back on track the platform will only launch once he fully satisfied.

"With Noon, we aim to deliver an e-commerce platform that creates long-term economic value, is truly relevant to the region and supports its home-grown enterprises. It is vital that all our systems and processes work at the highest possible level. The coming months will be spent to ensure this, particularly with some of the many supply chain innovations we have been developing," said Alabbar.

Talks of Noon began in November 2016 when Alabbar and PIF settled on a $1bn financial backing, with 50% from PIF and the remaining half from Alabbar and a group of GCC investors.

120 days ago
Desertfox

I am sorry but this is rather difficult to understand. Why would one pay Millions of Dirhams for a software product still in the development stage and than let part of the original development team go to start all over again? Unless, of course, one wishes to go in a different direction or has sufficient funds to burn some more!

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