HDC employees instructed to return a portion of their 2025 bonuses after disbursement

Housing Development Corporation (HDC) has instructed its employees to return a portion of the bonuses issued for the year 2025.

An HDC employee who spoke to RaajjeMV confirmed that the annual bonus for 2025 has been disbursed. The employee noted that questions were raised regarding the decision to grant the full bonus even to staff members who have served for less than a year. Despite these concerns, employees reported that those with less than a year of service still received the full bonus amount of MVR 18,600, which has already been deposited into their accounts.

However, employees have since reported receiving emails stating that those with less than one year of service are ineligible for the full bonus and are being instructed to refund a portion of the payment. Staff members noted that when some expressed an inability to repay the lump sum at once, they were told to agree to monthly salary deductions of MVR 2,000 or another manageable amount that would not cause them financial hardship.

Furthermore, he stated that such issues should not occur, noting that they negatively impact operations. He added that this situation is a significant setback for the employees.

"How can we afford to pay 6,000 or 9,000 Rufiyaa all at once? It is going to be extremely difficult. To be honest, these kinds of actions make things very challenging for us. We are being placed under immense pressure because of the way the authorities are handling this."

An employee of HDC

Employees of the Housing Development Corporation (HDC) have expressed concern over delays in the disbursement of their 2025 bonuses, following a directive stating that only a portion of the payment would be issued initially.

Although Housing Development Corporation (HDC) typically distributes annual bonuses to its employees around August each year, the company has not issued any annual bonuses for 2025.

Until 2023, employees of the Housing Development Corporation (HDC) received an annual bonus equivalent to two months' salary.

Despite being one of the most profitable state-owned enterprises, Housing Development Corporation (HDC) has faced significant financial losses since the beginning of 2024.

According to the annual report on state-owned enterprises released by the Privatization and Corporatization Board (PCB), Housing Development Corporation (HDC) generated a total revenue of MVR 3.5 billion in 2024. This represents a 50 percent decline compared to the revenue recorded the previous year. HDC failed to record a net profit in 2024, instead facing a net loss of MVR 109 million. Furthermore, the annual bonus distributed to employees for the year was set at MVR 10,000. Employees noted that this marks the lowest bonus payout in the history of the corporation.