Fayyaz: SOE layoffs will affect 50,000 people

33 minutes ago

Former Economic Minister Fayyaz Ismail says the government’s order for state-owned enterprises (SOEs) to cut 33 percent of their staff will result in more than 14,000 people losing their jobs, affecting over 50,000 dependents across the country. Speaking at an MDP press conference on Tuesday, Fayyaz said the scale of the layoffs is unprecedented for a country the size of Maldives.