According to rumors
City 7, an English channel that was launched two years ago, is part of the Bin Hendi group. The channel provides content filmed in the UAE as well as international shows. City 7 TV is free-to-air throughout the Middle East and Africa.City 7 could be the first in Dubai to downsize (or shut down), but it may not be the last. When asked if the channel was shutting down, one person wearing a City 7 TV shirt said “yes.”
Damac fired 200 of its employees, Omniyat bid farewell to almost 60 people, and Emaar is also rumored to have had job cuts. There were also reports that Standard Chartered laid off 80 of its staff, though the bank did not publicly confirm the news.
Media companies in the West have already fallen prey to the credit crunch In the UK, Virgin Media fired 2,200 employees last week. Forbes in the US is also following suit; ForbesAutos.com is being shut down and its entire staff is being let go. ForbesTraveler’s staff is also being laid off. CondéNet has also reportedly told staffers that it will start slashing jobs “across the board.” Condé Nast’s Wired is also said to cut jobs.
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