Restructured Petronas sees 1,000 jobs made redundant

Kuala Lumpur

ABOUT 1,000 positions will be made redundant from Petronas' new flatter and leaner organisational structure, Malaysia's national oil company announced on Tuesday after earlier cautioning the prolonged slump in oil prices would necessitate tough decisions.

Exhaustive efforts are ongoing to redeploy affected employees, the company said in a statement on the group-wide transformation, which is expected to result in under 1,000 redundancies or slightly under 2 per cent of its 51,000 global headcount.