The employees of global financial institutions in Saudi Arabia were out of work / Franklin Templeton's office was closed

Global financial institutions, including JPMorgan Chase and Deutsche Bank, have allowed their Saudi-based employees to work from home after a series of attacks by Yemeni armed forces heightened security concerns in Saudi Arabia, three sources familiar with the matter told Reuters. The post Employees of global financial institutions were laid off in Saudi Arabia / The office of Franklin Templeton Company was closed appeared first on Safir Arjan.

Global financial institutions, including JPMorgan Chase and Deutsche Bank, have allowed their Saudi-based employees to work from home after a series of attacks by Yemeni armed forces heightened security concerns in Saudi Arabia, three sources familiar with the matter told Reuters.

According to Ambassador Arjan, one of these sources explained that the American investment company Franklin Templeton has temporarily closed its Riyadh office and asked all its employees to work from home until further notice, without specifying when this period will end with the new work.

Also earlier in the week, Wall Street-listed Citigroup announced it would allow employees to work from home. "The safety of our employees and their families has always been our top priority," Gonzalo Lucetti, its chief financial officer, told reporters after a conference call Tuesday about the results.

The actions follow an increase in attacks by Yemeni armed forces against Saudi Arabia in the past week, including an attack on Saudi Aramco facilities on Tuesday and an earlier attack on King Khalid International Airport in Riyadh on Saturday.

JPMorgan Chase and Deutsche Bank allowed their employees to work from home starting Sunday, the day after the airport attack, while their offices remained open to those who wished to use them, two sources familiar with the matter said.

One of the sources said the telecommuting flexibility was in place in part to help parents after Saudi Arabia switched to online education this week.

Yemeni armed forces have vowed to carry out more attacks on airports and oil facilities in Saudi Arabia.

The attacks in Saudi Arabia have disrupted the Gulf's busy conference season, which usually runs from September to December, coinciding with the region's milder weather.

Saudi Arabia plans to make its flagship conference, the Future Investment Initiative, scheduled for later this month, an event that will allow executives to participate remotely, Reuters reported.