Fenaka fires 700 staff to cut costs
More than 900 employees have already been laid off since the Muizzu government took over Fenaka.
By
Aishath Maha
The Fenaka Corporation has sent termination notices to more than 700 employees, all of whom were hired for projects, the company said on Wednesday.
Fenaka Managing Director Muaz Mohamed Rasheed told Atoll Times on Wednesday evening that the employees were hired for construction work.
Muaz said the company would save between MVR 7 million and MVR 9 million per month by laying off the employees.
He added:
-
A total of 731 employees have been sent notices
-
The deadline given to these employees will expire after the 15th of this month
-
They are employees who have been hired for projects that have been completed or stopped
-
No operation level employees will be cut
Muaz said Fenaka would then work on projects by tendering them instead of hiring employees for the company.
Muaz said the company does not have the resources and equipment needed to hire employees and being a costly task, the company does not have the money to do so.
More than 900 employees have already been laid off since the Muizzu government took over Fenaka.
