The Saudi Labor Market Committee at the Saudi Council of Chambers will hold an urgent meeting today (4 February 2016), to discuss the implications of the Shure Council’s recent decision to reduce private sector working hours to 40/week, according to sources speaking to Al Riyadh newspaper. The decision is part of the Kingdom’s efforts to bolster Saudisation through more attractive working conditions. The committee will discuss options to mitigate the negative impact of the decision on the business sector, specifically regarding increased staff costs that are expected to rise by SAR37 billion/annum due to increased over-time expenses for nearly nine million employees. The committee will also study the impact of the decision on the mega developmental projects that are currently being constructed, maintaining a commitment to the deadline, as well as the impact on small institutions’ margins. (Al Riyadh, Argaam)