PETALING JAYA: Petroliam Nasional Bhd (Petronas) is undergoing a strategic transformation to become a more agile and integrated company that continues to deliver safe, reliable and sustainable energy solutions, the company said in a statement.
In light of complex global and domestic challenges, Petronas is conducting a thorough review of its operations – including assets, processes, expenditures and workforce – to ensure it remains competitive and future ready.
It said this top-down, enterprise-wide workforce assessment is aimed at aligning the organisation with long-term direction to deliver greater value.
President and group CEO Tengku Muhammad Taufik Tengku Aziz said, “We acknowledge that this process may result in difficult but necessary workforce adjustments, with an estimation of 10% reduction from our total workforce. Petronas is striving to complete the notification process to those affected staff in stages until end of this year. Petronas remains fully committed to managing this process with transparency, care and respect for all impacted employees.”
To facilitate this exercise, Petronas will implement a general freeze on hiring activities until December 2026, with exceptions made for selected business-critical positions, which will be assessed on a case-by-case basis.
“The comprehensive review of its assets, processes, expenditures and people are fundamental shifts critical for Petronas to compete and drive future growth amidst a heightening challenging market environment,” said Tengku Muhammad.
The transformation is envisioned to better position Petronas to ensure its relevance amid a challenging energy transition, strengthen its resilience and allow it to remain competitive, even as it accelerates growth through targeted investments while creating a value-centric and agile workforce.
