‘Many are on contract’, Anwar says amid concerns over Petronas job cuts
When asked to comment on Petronas’ recent decision to cut about 10 per cent of its workforce, Prime Minister Datuk Seri Anwar Ibrahim said many of the affected positions were contract-based. — Picture by Firdaus Latif
Friday, 06 Jun 2025 2:38 PM MYT
PUTRAJAYA, June 6 — Prime Minister Datuk Seri Anwar Ibrahim today addressed concerns over Petronas’ recent decision to cut around 5,000 jobs.
When asked to comment on the state oil company’s announcement, Anwar said many of the affected positions were contract-based.
“Many are on contract,” he told reporters briefly after attending Friday prayers at Surau Al-Ikhwan, Jalan Pinggiran Putra here.
Yesterday, financial news agency Bloomberg reported that Petronas will cut about 10 per cent of its workforce as part of a major restructuring to reduce costs amid falling crude oil prices.
The state-owned oil and gas company plans to cut more than 5,000 jobs, CEO Tan Sri Tengku Muhammad Taufik Aziz said in a media briefing.
He added that Petronas will implement a hiring and promotion freeze until the end of 2026.
The reality today is more and more jobs are on contracts that can be terminated with little or no costs, much worse benefits.
ReplyDeleteIn addition, being a contract employee can make it far harder to get bank loans etc. for buying a home or a car.