KUALA LUMPUR, June 10 (Bernama) -- PETRONAS remains committed to safeguarding employees’ welfare as it navigates a polycrisis driven by global pressures, coupled with heightened challenges to unlock the full potential of its oil and gas resources in Malaysia.
 
As the company undertakes a strategic transformation to become an agile and integrated energy company, it will continue delivering safe, reliable and sustainable energy solutions, building on its strengths to remain a competitive upstream player, a dependable global LNG supplier, and to evolve into an energy superstore that provides solutions to lower-carbon intensity energy needs.
 
This undertaking will require workforce adjustments, with an estimation of 10% reduction of the total workforce. While this is a very difficult decision, it is a necessary one to ensure PETRONAS can continue to grow and serve the nation. PETRONAS is committed to managing this process fairly, objectively, and systematically.
 
PETRONAS has formed Transition Council and People Development Committees for talent mapping and placement decisions are made collectively guided by structured platforms. This process also follows necessary legal requirements and adopts the required industrial relations practices.
 
Engagements have been conducted with respective Department of Labour and Department of Industrial Relations under Ministry of Human Resources to ensure the planned implementation meets the statutory requirements.
 
To support employees affected by this exercise, a comprehensive transition programme has been put in place. Every decision is made with fairness, respect, and professionalism. PETRONAS remains deeply committed to the welfare of its people and will ensure that those impacted are treated with compassion and respect. Impacted employees will receive a market-competitive separation package - one that exceeds minimum statutory requirement.
 
Beyond financial support, affected employees will also receive:
· Career coaching and job search assistance
· Emotional support services
· Medical Assistance Programme
· Upskilling and reskilling programmes
· Financial planning guidance
 
The above packages and benefits are structured based on employees’ years of service and may vary depending on employee category and eligibility. In addition, PETRONAS, in collaboration with PERKESO through MyFutureJobs, is exploring placement opportunities for eligible affected employees in other sectors.
 
PETRONAS is also working closely with various government-linked companies to facilitate potential placements within their organisations. Additionally, the Company’s Entrepreneurship Programme run by PETRONAS Innovation Garage offers a guided pathway into business ownership for those exploring alternative career paths.
 
This transformation is designed to enhance PETRONAS’ resilience and competitiveness in the face of a challenging energy transition. It also aims to ensure the company remains relevant in a rapidly evolving landscape, while enabling continued growth through focused investments and the development of a high-performing, value-driven workforce.
 
Issued by
Media Communications
Group Strategic Relations & Communications
PETRONAS
 
SOURCE: PETRONAS

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Esha Lim
Tel: 012 412 0117 
Email: eshalim.hweenee@petronas.com 

--BERNAMA