Petronas Restructuring: Thousands of Contract Workers Impacted

Petronas Announces Restructuring: Thousands of Contract Workers Affected Kuala Lumpur, Malaysia – Petronas, Malaysia's state-owned oil and gas company, has announced a major restructuring plan that will primarily impact its contract workers. The announcement was made by Prime Minister Anwar Ibrahim following Friday prayers in Desa Pinggiran Putra. According to the Prime Minister, the restructuring will involve approximately 5,000 to 10,000 contract workers and will be implemented in phases, beginning next year. This strategic move is intended to help Petronas navigate the challenges of a fluctuating global oil and gas market and adapt to shifting market demands. "This restructuring is a necessary step to ensure Petronas' long-term competitiveness," Prime Minister Ibrahim stated. "It is a strategic response to the challenges we face in the global market." The video accompanying the announcement showed footage of Petronas facilities and operations, highlighting the scale of the company's operations and the impact of the restructuring. The news report underscores the importance of adapting to the global energy landscape. The phased implementation suggests a measured approach to minimize disruption and ensure a smooth transition for affected workers. While the restructuring will impact a significant number of individuals, it is framed as a necessary step for the long-term sustainability of Petronas.