Petronas has confirmed that it will layoff employees to ensure long term survival.

The O&G giant announced on Feb 7 that it currently has too many workers and needs to undertake a workforce restructuring.

“If we don’t do it now, there’ll be no Petronas in 10 years,” its CEO said.

Starting the second half of 2025, employees who are no longer needed will be retrenched rightsized. Petronas has promised that those affected will receive “appropriate assistance.”

According to its CEO, the company currently has 52,000 employees, but 16,000 are considered “Enablers,” which the group aims to reduce.

In a separate story, EPF dividends for 2024 are expected to