The Housing Development Corporation (HDC), the state-owned enterprise responsible for managing Hulhumale', has decided to terminate a large number of employees, with dismissal notices already being issued via email.
While HDC opened applications for voluntary redundancy on July 12, the notices sent to staff today inform them that their current positions have been abolished.
HDC currently employs over 2,000 staff. The downsizing follows a directive from the Privatization and Corporatization Board (PCB), the regulatory body for state-owned enterprises (SOEs), to reduce the workforce across SOEs by 33 percent. The exact number of employees to be terminated in this round remains unclear.
Citing the directive to abolish positions, the company has offered affected staff the opportunity to apply for voluntary retirement. However, the window for application is brief, with the deadline set for 12:00 pm tomorrow.
The emails further state that employees who do not opt for voluntary retirement will be terminated from their posts in accordance with established laws and regulations.
It is understood that the list of employees facing termination consists of individuals who are not supporters of the ruling party.
The deadline for HDC employees to apply for voluntary resignation is set for next Monday. Staff wishing to leave the company are required to submit their applications through an online form.
In addition to HDC, the state utility company Fenaka Corporation has announced a similar downsizing program. However, only 108 employees applied for Fenaka’s voluntary redundancy scheme, representing just 1.3 percent of its 8,000-strong workforce.
