Petronas Announces 10 Percent Workforce Reduction Freezes Hiring Until 2026
On June 5, 2025, Petronas CEO Tengku Muhammad Taufik confirmed that the company will cut its workforce by 10%, affecting approximately 5,000 employees from its 50,000-strong team. Additionally, the company will impose a hiring freeze until December 2026 as part of its restructuring efforts.
Tengku Muhammad Taufik emphasized that these measures are necessary to ensure the company’s long-term survival amid growing global challenges. In February, he had warned that without action, Petronas might face existential risks in the next decade.
This restructuring reflects the growing pressures on energy companies globally to adapt to volatile market conditions and remain competitive in a rapidly evolving industry.
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2026-09-08
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