KUWAIT CITY, March 7:  The Government Manpower Restructuring Program has been working hard to convince private investment companies to reabsorb dismissed employees at the height of the global financial crisis, reports Al-Kuwaitiah daily quoting sources.

Sources disclosed the officials in charge of the program had a meeting with the Union of Investment Companies to discuss the possibility of re-hiring the employees.  Sources said the representative of companies presented requirements for various positions to the officials in line with the conditions specified by the monitoring agencies like the Stock Exchange Council and the Central Bank of Kuwait.

Sources confirmed the union will soon send letters to the concerned companies to understand the qualification requirements for vacant posts.  Sources explained this will help the program in placing the dismissed employees to suitable posts.  Sources said the investment companies have been trying to reduce expenditures to ensure availability of funds after the global meltdown.  Sources added these companies have rationalized the number of employees by over 30 percent.