{"id":16908,"date":"2026-04-05T22:06:06","date_gmt":"2026-04-05T17:06:06","guid":{"rendered":"https:\/\/mbt.mv\/?p=16908"},"modified":"2026-04-05T22:06:06","modified_gmt":"2026-04-05T17:06:06","slug":"mifco-reduces-working-hours-cost-cutting","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=16908","title":{"rendered":"MIFCO Announces New Cost Cutting Measure: Slices Work Hours"},"content":{"rendered":"<p>The Maldives Industrial Fisheries Company (MIFCO) shortened official staff hours today as part of a new cost-cutting strategy. The state-owned enterprise released a memo to employees citing &#8220;special circumstances&#8221; and a need for fiscal stability.<\/p>\n<p>Consequently, management reduced the workday for head office staff by two hours.<\/p>\n<p>The new schedule runs from 08:00hrs to 14:00hrs instead of the previous 16:00hrs cutoff. Although MIFCO reduces working hours, the company also updated its overtime policy.<\/p>\n<p>Now, employees only earn overtime pay after they complete a full eight-hour shift. Additionally, workers must submit a formal request to their Department Head if they need to work past 14:00hrs.<\/p>\n<p>Middle East conflicts caused a global economic downturn, according to a senior official. Therefore, the company took these steps to protects its financial health. The official noted that leadership carefully considered these changes to help the workforce.<\/p>\n<p>As MIFCO reduces working hours, it follows a regional trend of using shorter schedules to navigate modern economic challenges.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Maldives Industrial Fisheries Company (MIFCO) shortened official staff hours today as part of a new cost-cutting strategy. The state-owned enterprise released a memo to employees citing &#8220;special circumstances&#8221; and a need for fiscal stability. Consequently, management reduced the workday for head office staff by two hours. The new schedule runs from 08:00hrs to 14:00hrs<\/p>\n","protected":false},"author":4,"featured_media":16909,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2423,3329,2508,2464,2506],"tags":[3442,777,1309,1446],"class_list":{"0":"post-16908","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-environment","9":"category-latest-news","10":"category-local-news","11":"category-top-stories-block","12":"tag-cost-cutting-measures","13":"tag-global-economy","14":"tag-maldives-industrial-fisheries-company-mifco","15":"tag-mifco"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MIFCO Reduces Working Hours for Cost-Cutting<\/title>\n<meta name=\"description\" content=\"MIFCO reduces official working hours to cut costs and updated overtime rules 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