Petronas' 10% layoffs reflect energy shift, domestic frictions

KUALA LUMPUR -- Malaysia's state oil company Petronas is preparing to cut 10% of its workforce globally, or about 5,000 jobs, in a sweeping restructuring to navigate the twin pressures of the global energy transition and changing domestic business environment.

The layoffs, announced last week, mark Petronas' largest workforce reduction in over a decade. It plans to optimize corporate functions such as finance, human resources and commercial units while preserving frontline staff directly engaged in revenue generation.