The Stock Exchange Public Authority handed 90 expatriate employees pink slips effective 31 March, 2016. But the way the termination notices were delivered was criticized, because three employees of the authority went around departments and handed the envelopes to the concerned employees.
The criticism did not come from expats only, but from their Kuwait colleagues too.
The letters included two paragraphs, the first thanking them for their efforts that helped the advancement of the entity, and the second said “we are sorry to inform you that the authority no longer wants to renew your contract for another period”.
This was a surprise to workers who spent most of their lives in the service of the exchange. The director of one sector expressed his displeasure with what happened and the way concerned authorities acted with people who have been working there for years.