FENAKA Dismisses 1,780 Employees Amidst Election Dynamics

FENAKA Corporation has revealed that they released 1,780 employees whose contracts expired during the period of last year’s presidential election. 

Managing Director Muaz Mohamed Rasheed disclosed this information while responding to queries from members of the Committee of the Parliament. 

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Muaz addressed concerns raised by the current management regarding the recruitment process, stating that no employment or dismissal occurred in contravention of the HR policy.

Highlighting the timeline of recruitment activities, Muaz indicated that between January 1, 2023, and September 9, 2023, a total of 2,105 individuals were hired, bringing the company’s employee count to 4,825 before the presidential election. 

Additionally, he noted an increase of 122 employees between the first and second rounds of the election under the previous government’s tenure.

Muaz clarified that these recruitments primarily aimed to support stalled projects, with many of the hired individuals nearing the end of their contracts. He emphasised the company’s decision not to renew these contracts but instead to focus on project stabilisation.

Regarding the status of employees hired under the previous government, Muaz stated that over 1,700 individuals were laid off, while 1,529 new employees were recruited from January to the 20th of the current month to resume project operations.

The FENAKA Corporation’s disclosure sheds light on workforce adjustments and recruitment policies, reflecting ongoing efforts to streamline operations and address challenges inherited from previous administrations.