Petronas will likely be slicing 10% of its workforce in a restructuring train, CEO Tan Sri Tengku Muhammad Taufik mentioned, reported Reuters.
The corporate is not going to be exiting its enterprise in Canada, its CEO added. Earlier, Bloomberg reported that Petronas is contemplating the sale of its Canadian firm, Progress Power Assets. “Canada is essential to our ambitions to protect our place within the liquefied pure gasoline house,” Muhammad Taufik mentioned.
In February, Muhammad Taufik mentioned that Petronas intends to “right-size” its workforce as the worldwide working setting evolves and turns into more and more difficult. The restructuring train goals to scale back the headcount of its enablers, or these in administrative roles. On the time, Petronas had as much as 53,000 personnel in its international workforce, of which there are as much as 16,000 enablers.
“This isn’t a retrenchment; it’s a right-sizing workforce train. That is to make sure the survival of Petronas within the coming many years. If we don’t do it now, there will likely be no Petronas in 10 years,” Muhammad Taufik mentioned in a media briefing in February.
The CEO additionally harassed that the right-sizing just isn’t a results of the Sarawak authorities’s request to take over the gasoline aggregator function from Petronas within the gas-producing state.
The final time Petronas carried out a overview of its workforce was in 2016, when it introduced cuts of 1,000 jobs which had been lower than 2% of its complete workforce on the time.
Petronas’ long-term function may concentrate on upstream exploration, in addition to processing merchandise from hydrocarbons, consistent with its petrochemical section’s growth into specialty chemical substances. The group can be commercialising expertise, finest practices, and renewable power.
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