Saudi Binladin pay delayed salaries to employees
The delayed salary payments, along with letters of termination, were made at SBG's head office in Hamadaniyah district in east Jeddah, according to reports
The Saudi Binladin Group (SBG) has started paying employees their salaries which have been delayed by around five months.
The payments, along with letters of termination, were made at the company's head office in Hamadaniyah district in east Jeddah, the Saudi Gazette reported.
A number of the terminated workers said they will now, either, look for other jobs with new sponsors or depart for their respective homes.
According to recent reports, SBG has secured a $666.5m (SAR2.5bn) loan from local banks as it looks to consolidate its fluidity.
It was also reported that the company reportedly plans to sell some of its property and other assets in a bid to pay its debt.
Abdullah Al-Olayan, director of the Makkah branch of the Ministry of Labour and Social Development said the company paid more than 10,000 delayed salaries in May and transferred the services of 16,000 personnel to new sponsors.
The director said, so far, the country has laid off more than 69,000 of it workers.
He added that the ministry has activated its computer services to renew the iqamas of the Binladin workers so that their bank accounts are not frozen, but it is still preventing the company from recruitment or change of job titles until their workers are paid all their dues.