Petronas Conducts Thorough Review On Overall Operations To Remain Competitive
KUALA LUMPUR, June 6 (Bernama) -- Petroliam Nasional Bhd (Petronas) reiterated that it is conducting a thorough review of its operations, including assets, processes, expenditures, and workforce to ensure it remains competitive and future-ready.
The national oil firm noted that the top-down, enterprise-wide workforce assessment is aimed at aligning the organisation with long-term direction to deliver greater value.
Petronas president and group chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz said Petronas acknowledged that the process might result in difficult but necessary workforce adjustments, with an estimated 10 per cent reduction from its total workforce.
He added that the group is striving to complete the notification process for the affected staff in stages until the end of this year and remains fully committed to managing this process with transparency, care and respect for all impacted employees.
“The comprehensive review of its assets, processes, expenditures and people is a fundamental shift critical for Petronas to compete and drive future growth amidst a heightening challenging market environment,” Tengku Muhammad Taufik said in a statement today.
To facilitate this exercise, Petronas will implement a general freeze on hiring activities until December 2026, with exceptions made for selected business-critical positions, which will be assessed on a case-by-case basis.
-- BERNAMA