ATLANTA (AP) _ An employee group said Wednesday it planned to launch a bid to buy Georgia- Pacific Corp., a move the giant forest products company dismissed as the work of a disgruntled former worker.

The employees group, in conjunction with International Business Consultants, a Dallas consulting and management firm, announced through a press release that it was trying to recruit workers to participate in an employee stock ownership plan to buy Georgia-Pacific's mills and subsidiaries.

Joe Greer, a spokesman for IBC, said it would be the largest ESOP buyout of a public company in U.S. history. The group did not put a dollar figure on the bid.

Georgia-Pacific immediately dismissed an employee buyout as having ''absolutely no chance of success.''

''Georgia-Pacific does not take seriously the possibility that the group in question, IBC, could affect the buyout of the company using an employee stock ownership plan,'' Georgia-Pacific Chairman T. Marshall Hahn said in a statement.

He said Georgia-Pacific has identified the people behind the move as two Arkansas realtors and a disgruntled former employee of Great Northern Nekoosa Corp.

Georgia-Pacific this year concluded a $5 billion buyout of Great Northern after a long and bitter struggle, creating the world's largest forest products company.

Hahn added that G-P has not been presented with a proposal, and said the company planned to ask the Securities and Exchange Commission to investigate for possible stock manipulation.

Trading of Georgia-Pacific stock was halted on the New York Stock Exchange around the time the press release was issued. The stock resumed trading and closed down 87 1/2 cents at $34.50 per share.