Employees in the UAE have told ARN News how they feel, after a new report found that eight out of every 10 people in the country fear getting laid off.
The study by McKinsey & Company also revealed that 40 percent of people in the UAE and Saudi Arabia are cutting down on spending and paying closer attention to prices.
Here's what these residents said:
Meanwhile, the report also found that consumers are also becoming less brand loyal, with at least 15 per cent switching to less expensive brands.

UAE allocates $10 million for Colombia earthquake relief
Dubai Humanitarian launches air bridge to deliver vital aid to Gaza
UAE reaffirms solidarity with Colombia after earthquake
Dubai Fitness Challenge returns for another exciting edition
UAE President, King of Bahrain discuss stronger ties and regional stability
UAE-built AI satellite Altair-1 heads to US ahead of October launch
New bridge to cut travel time from DWTC to Al Mustaqbal Street
UAE Floating Hospital fits prosthetic limbs for 21 more Palestinian amputees
UAE, DR Congo Presidents discuss strengthening cooperation under CEPA
UAE leaders highlight youth's role central to nation's future
UAE highlights flexible, skills-based education model at BRICS meeting
Abu Dhabi Customs raises alert over fraudulent messages
UAE President meets Lulu founder Yusuff Ali during Abu Dhabi store visit
UAE issues special coins to mark contribution of youth in country's progress
Sharjah Ruler approves 470 scholarships for new academic year
UAE continues mobile health clinic operations in Gaza
UAE expands youth empowerment efforts across key sectors
UAE authorities seize 3.5 million non-compliant excise goods
Gargash highlights need to end region's 'indefinite' state
UAE pays out AED512 million under unemployment insurance scheme
