Managing Director of Fenaka Corporation Limited Muaz Mohamed Rasheed has disclosed that contracts of over 1,800 employees expired by November this year.
Speaking to PSM News, Muaz acknowledged that the company had recruited employees to an insufficient level, resulting in a USD260 million debt. He also expressed the necessity of reducing the number of non-working contract employees to alleviate the company's debt.
Additionally, Muaz clarified that no employees were terminated illegally, stating that upon contract expiration, a company's decision to conclude the employment cannot be deemed illegal. He specified that the contracts of 1,868 employees had expired by November, but reassured that those with job descriptions would have their contracts renewed.
Furthermore, Muaz highlighted that individuals were hired at Fenaka without due consideration, emphasising the importance of ensuring a clean record for hundreds of employees. He explained that efforts were underway to clear the criminal records of the individuals, highlighting its relevance to the overall safety of the company's workforce.
Fenaka has faced allegations of facilitating corruption, with criticism directed at all branches for excessive employee recruitment. Many concerns have also prompted accusations of unjust employee layoffs, leading to the submission of an emergency motion in the Parliament of the Maldives. The matter is currently under debate, acknowledging the need for a thorough examination of the allegations.