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AP Fibernet Corporation to dismiss 410 employees, says GV Reddy
In a significant move, GV Reddy, the Chairman of AP Fibernet Corporation, has announced the dismissal of 410 employees due to rule violations in their appointments.
In a significant move, GV Reddy, the Chairman of AP Fibernet Corporation, has announced the dismissal of 410 employees due to rule violations in their appointments. During a recent statement, Reddy revealed that this decision comes in the wake of discrepancies identified in the hiring process, particularly for those appointed between 2019 and 2024 during the YSRCP regime.
Reddy highlighted that the Fibernet corporation witnessed a substantial increase in workforce—growing from 108 employees managing 10 lakh connections between 2016 and 2019, to 1,360 employees with a reduced customer base of just 5 lakh connections. He emphasized that the surge in hiring was largely influenced by the recommendations of certain political leaders, including MP Avinash Reddy, and criticized the appointments as unnecessary and against established protocols.
Clarifying the rationale behind the dismissals, Reddy stated, "There is no animosity towards the employees; our action is based solely on adherence to legal and procedural frameworks." He confirmed that the employee terminations would be executed systematically and legally, not arbitrarily. He also mentioned that the corporation is grappling with debts exceeding Rs 2,000 crores, and that further action may be necessary against those found culpable in the misconduct surrounding hiring processes.
Additionally, GV Reddy addressed financial irregularities concerning the production of Ram Gopal Varma's movie "Vayuham," revealing that Rs 1 crore 15 lakhs were allegedly disbursed illegally to the filmmaker during the previous administration. Notices have been issued to Varma, demanding repayment within 15 days, or face legal repercussions.
In ongoing efforts to streamline operations, Reddy indicated that the company is planning to dismiss another 200 employees soon, as part of an overarching strategy to rectify mismanagement and improve the organization’s financial health. "We are committed to cleaning up AP Fiber Net to ensure the corporation functions effectively moving forward," he concluded.
