Fayyaz: 14,733 employees to be "discarded" as part of 33 percent workforce reduction
Fayyaz stated that the income of 14,000 individuals directly impacts the livelihoods of at least 50,000 people, noting that this figure represents approximately 20 to 25 percent of the total Maldivian population.
Former Chairperson of the MDP, Fayyaz Ismail. | Social Media
Former Economic Minister Fayyaz Ismail has stated that the government's decision to downsize 33 percent of the workforce across state-owned enterprises will result in the dismissal of 14,733 employees.
Speaking at a press conference held by the MDP on Tuesday, Fayyaz stated that while there are discussions regarding the dismissal of 33 percent of the workforce, figures indicate this would amount to 14,733 employees. He further emphasized that before terminating these individuals and leaving them stranded, it is essential to consider how many people rely on the income generated by these workers.
Fayyaz highlighted that the income of 14,000 individuals directly impacts the livelihoods of at least 50,000 people. He noted that this represents approximately 20 to 25 percent of the Maldivian population. Furthermore, Fayyaz stated that during the COVID-19 pandemic, the then-MDP administration provided support to 22,945 individuals who had either lost their jobs or faced non-payment of wages.
Fayyaz stated that the MDP administration spent MVR 419 million on a transparent program after clearly outlining its objectives and implementation strategy to the public. He noted that this initiative successfully protected numerous families and their associated businesses. Furthermore, Fayyaz highlighted that such programs were instrumental in providing the opportunity for the Maldivian economy to achieve a swift recovery.
The livelihoods of 14,000 individuals are directly linked to the well-being of at least 50,000 people. These 50,000 citizens represent approximately 20 to 25 percent of the Maldivian population. During the height of the COVID-19 pandemic, our government provided essential support to 22,945 individuals who had either lost their jobs or faced a total loss of income.Fayyaz Ismail
Furthermore, Fayyaz stated that the Privatization and Corporatization Board (PCB) is now discussing the "right-sizing" of state-owned enterprises. He noted that this implies these companies are currently headed in the wrong direction. Fayyaz further highlighted that, based on the figures, right-sizing would effectively mean returning to the staffing levels maintained during the MDP administration.
The government has decided to terminate a significant number of employees from state-owned enterprises under the guise of "right-sizing" the companies.
