Bloomberg allows Gulf staff to relocate as Iran attacks intensify
Bloomberg LP has told employees based in Gulf countries, including those at its regional headquarters in Dubai, that they may temporarily relocate and work from outside the region as Iranian attacks continue to escalate, according to a company spokesperson speaking to Reuters.
The move makes Bloomberg one of several major financial and media institutions adjusting operations as the conflict spreads across the Middle East, disrupting daily life and raising security concerns across the Gulf.
Several global banks have taken similar steps in recent days. Citigroup, Goldman Sachs, Standard Chartered, Morgan Stanley and the London Stock Exchange Group have asked staff in Dubai to work remotely. The New York Times reported that Citigroup instructed employees to quickly leave its offices at the Dubai International Financial Centre after an internal memo warned of heightened security risks.
The wave of office closures accelerated after an Iranian military official warned that Tehran could target Gulf financial institutions and economic centers linked to the United States and Israel. The warning followed an overnight strike on a building connected to Bank Sepah in Iran, which Iranian state media attributed to U.S. and Israeli forces.
Standard Chartered said it had expanded remote work arrangements for staff in the Middle East to include its Dubai office. The bank emphasized that its operations and customer services remain uninterrupted while the safety of employees remains the priority.
Despite the expanded relocation options, only a small number of workers appear to have left the region. One bank told Bloomberg News that uptake had been “very limited,” with many employees offered the option to work abroad but without financial compensation for relocation.
Tax rules and regulatory approvals required to work from another jurisdiction have also complicated temporary moves for some staff.
Bloomberg co founder Michael Bloomberg addressed the situation during a company event in Paris on Thursday, saying the firm remains committed to the region and to supporting its clients during the crisis.
The company’s weekday program “Horizons Middle East & Africa” was not broadcast from Dubai on Thursday due to what presenter Joumanna Bercetche described on X as the escalation of the security situation.
The adjustments come nearly two weeks after the conflict began with U.S. and Israeli strikes on Iran, which triggered retaliatory missile and drone attacks across the Gulf.
Iran has targeted airports, ports, residential towers and oil infrastructure in several countries, including the United Arab Emirates, Saudi Arabia, Qatar, Bahrain, Kuwait and Oman. Many governments have issued travel warnings and urged their citizens to leave the region.
Some multinational firms have begun evacuation efforts. Consulting firm McKinsey chartered a flight to Turkey to evacuate consultants from the Gulf, while HSBC chief executive Georges Elhedery said the bank’s outlook for the economies of the Gulf Cooperation Council remains unchanged despite the conflict.
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