Retrenchment: Petronas must prioritize corporate restructuring over job cuts
Malaysia’s national oil company, Petronas, is reportedly contemplating a retrenchment exercise involving up to 5,000 employees amid global energy transitions, revenue pressures, and internal restructuring plans. If confirmed, such a move would be the most extensive layoff by Petronas since the 2016 oil downturn. Yet, in a time when state-linked enterprises are expected to lead…