The government announced that 5,000 Petronas employees who were affected by the company’s restructuring measures have received a compensation package and comprehensive career transition assistance.
Minister in the Prime Minister’s Department (Law and Institutional Reform), Datuk Seri Azalina Othman Said, announced that PETRONAS has established two special panels, namely the Transition Council and the Human Capital Development Committee, to ensure that the staff relocation process runs fairly and orderly in accordance with labor laws and industry best practices.
Through a written parliamentary reply to Jerai Member of Parliament, Sabri Azit, Azalina explained that the support provided also includes skills training, career guidance, job placement assistance, financial planning and emotional support.
This initiative is implemented in collaboration with the Social Security Organization (Socso), government-linked companies (GLCs) and Petronas’ own internal entrepreneurship program.
This restructuring move, according to Azalina, is part of Petronas' transformation strategy to remain competitive in the face of the global energy transition, without affecting the company's contribution to the country's revenue or national development plans.
In June, Bloomberg reported that Petronas would reduce its workforce by up to 10% to reduce operating costs following the fall in crude oil prices.
Its Chief Executive Officer, Tan Sri Tengku Muhammad Taufik Aziz, was also reported to have imposed a freeze on hiring and promotions until the end of 2026.
Prime Minister, Datuk Seri Anwar Ibrahim, previously also commented on the issue and announced that most of the affected employees were contract employees.
