A general view of the Abu Dhabi skyline, a city that relies mainly on oil revenues.
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Thousands of layoffs at state-linked companies in Abu Dhabi are a fresh sign the Gulf's wealthy oil states are hunkering down for a long period of austerity as low crude prices pressure their struggling economies.SinceAbu Dhabi's National Oil Co., with around 55,000 staff, has cut hundreds of jobs in the last few months and will have reduced its workforce by at least 5,000 by the end of 2016, sources familiar with the matter told Reuters.Most cuts at state firms in Abu Dhabi and elsewhere involve foreign staff rather than locals, because governments want to limit unemployment among their citizens.Companies cutting staff in Abu Dhabi include Abu Dhabi National Energy Co., which has reduced its workforce by a quarter since 2014 .Earlier this year, Abu Dhabi-based Etihad Rail, the federal government-owned entity building a UAE rail network, said it cut 30 percent of its staff in a restructuring.National Petroleum Construction Co., owned by Abu Dhabi's state-owned industrial conglomerate Senaat and one of the largest oilfield contractors in Abu Dhabi, is reviewing its manpower levels, chief executive Aqeel Madhi told Reuters.
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