Qatar Foundation looks at job cuts amid low oil, gas prices

By The Associated Press

The Qatar Foundation says it is looking at possible job cuts, the latest Gulf entity to acknowledge being hurt by low global energy prices.

 

DUBAI, United Arab Emirates (AP) — The Qatar Foundation says it is looking at possible job cuts, the latest Gulf entity to acknowledge being hurt by low global energy prices.

The foundation says in a statement Sunday it is "examining our existing operational costs," when asked if it was cutting jobs. It declined to elaborate.

News of the cuts was first reported by the website Doha News, which suggested the layoffs could affect hundreds of workers.

The Qatar Foundation, once widely known for its placement on the jerseys of the Spanish football club Barcelona, is chaired by Sheikha Moza bint Nasser al-Missned, the most high-profile wife of former ruler Sheikh Hamad bin Khalifa Al Thani.

Qatar, which will host the 2022 FIFA World Cup, is a major natural gas producer that also pumps crude oil.

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