Jordan capital markets employees still on strike

21 June 2011

Negative impact of strike on exchange continues

Employees of Jordan’s capital market institutions have entered their 21st day of strikes after the government introduced austerity measures that saw their salaries cut by 50 per cent.

“The situation is still the same, we have not reached any agreements yet and many employees have submitted their resignations,” says one employee who asked not to be named.

Trading has not been suspended, although the homepage on the website has been replaced with an announcement explaining the reasons for the strike.

Employees of the Amman Stock Exchange (ASE), the Securities Depository Centre (SDC) and the Jordan Securities Commission (JSC) have all been affected by the government’s new measures to restructure the public sector.

The average volume traded on the ASE was JD10m ($14m) last week, down from JD11m the previous week.

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