Saudi Aramco, Other KSA Firms, Raise Wages 15 - 40% As Inflation Grows

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Several Saudi companies, including state-owned oil conglomerate Saudi Aramco, have decided to raise wages by 15-40% to offset the impact of rising inflation on employees, Al-Riyadh newspaper reported on Wednesday.

Inflation climbed to its highest in at least a decade in September, raising pressure on the world's biggest oil-exporter to heed growing discontent over prices without straining its currency peg to the dollar.

Aramco decided earlier this week to raise wages of lower-levels employees by 10% and agreed lesser increases for mid-level and top management, the paper said.

Mobile telephone operator Etihad Etisalat (Mobily) has decided to raise wages by 20-40% for its 2,800 employees, the newspaper reported a company official as saying. "This is to help employees face rising costs of living," the paper said. The newspaper said it had seen documents showing that Saudi Investment Bank has decided boost the salaries of all employees by 15% from January.

EDIT

http://www.arabianbusiness.com/505659-saudi-companies-announce-pay-raise?ln=en