Petronas Cuts 10% of Workforce, Impacting Thousands

Petronas Workforce Reduction: 10% Cut Impacts Contract Workers Malaysia's national oil and gas company, Petronas, has announced a 10% reduction in its workforce, primarily affecting contract workers. The news was confirmed by Prime Minister Datuk Seri Anwar Ibrahim, who addressed the matter during a press conference. This restructuring, according to Petronas President and Group Chief Executive Officer Tengku Muhammad Taufik Tengku Aziz, is significantly smaller than workforce reductions seen in comparable international companies. Mr. Aziz stated that the restructuring is a response to global uncertainties in the oil and gas industry. "The restructuring, involving 5,000 workers, is far smaller compared to international companies that have conducted large-scale layoffs," said Mr. Aziz. Prime Minister Ibrahim confirmed the reduction, stating that the government is aware of the situation and is monitoring its impact on the Malaysian workforce. While the reduction is expected to impact thousands of families, Petronas has emphasized that it is taking steps to mitigate the impact on affected employees. The company is providing support and resources to help those laid off find new employment opportunities. The move is part of a wider strategic restructuring designed to ensure Petronas' long-term sustainability and competitiveness in a challenging global market.