97 Fenaka employees apply to resign with four-month salary payout

97 employees of Fenaka Corporation have applied to voluntarily resign with a four-month salary payout, according to the corporation’s managing director Mohamed Afeef Hussain.

The state utility company had opened the opportunity for employees to voluntary resign with a four-month salary payout on June 2 – as part of efforts to reduce its 8,000-strong workforce.

Afeef, who took the helm of Fenaka in April, told Sun on Saturday that 97 employees have applied for the redundancy program.

Fenaka describes the redundancy program as a necessary measure to improve the efficiency of the company’s operations, and expand its services.

Fenaka states that reducing its workforce is necessary to ensure the sustainability of the company’s operations.

The company states that it faces logistical challenges in carrying out projects in islands, leaving many employees idle.

Another state-owned company, Housing Development Corporation (HDC), launched a similar redundancy program on Thursday, offering financial compensation in exchange for voluntary resignation.