Selasa depan tahu lah apa yang Petronas akan buat. A lot of those E4 and E5 akan be affected. Several divisions will be combined and the organisation structure will be a lot flatter. A lot and I mean a lot kf Job Positions have and will be downgraded (from E5 to E4) so kalau gaji dah E5 and kalau position to previously E5, then with the downgrade, you will be at a mismatch.

Exploration katanya will be combined into 1 division only across both Carigali and MPM, others will follow the same template.

Only the exploration side. MPM will now concentrate only on the Regulation etc rather than doing exploration themselves.

Heheheheh. I have to present to them all the time so I know how you feel bro.

Tiger with stripes?

https://forum.lowyat.net/index.php?act=Sear...highlite=jaguar

15 - 20 billion CAPEX cut. Damn. That is brutal.

16 billion as agreed last year.

Most of the affected positions are SM and above. A lot of positions have been combined so a lot of senior management positions have been eliminated. That's where the 1000 is coming from. So in terms of absolute number, it is probably only 2 percent but the impact on payroll will be a bit more significant.

Projects that are cancelled or rephased are the same as was mentioned yesterday.

MPM will be much smaller. All junior executives will be transfered out from MPM to their functional units. MPM will only be staffed by E3 and above as their role will only be that of an Approving Authority. They will keep some of the technical staff for the Milestone approvals but they will rever back to a regulatory unit.

Contract staff will not be renewed. I don't believe their number is reflected in the 1000 positions mentioned.

Yup

A friend whos is a GM is doing the position matching for E4 and below while another team is doing for E5 and above. Most of the "mismatch" are for SM and above. You really can't have 2 GMs or SGMs doing similar work. Take for example Exploration. It will be just Exploration instead of Exploration International and Exploration domestic. One of the reason why VP of Exploration International took early retirement because his position is no longer there. What do you think will happen to all the SGMs and GMs that was reporting to him? Scrambling like mad to secure available positions.

This post has been edited by azraeil: Mar 1 2016, 07:03 PM

Some say that they will let it lapse but I know of a friend who renewed for another 2 years last october who just received an early termination letter from management. The letter simply says that they have a right to change the clause and therefore in June they will review the contract to see of another 6 months of extension is needed. So yeah, tough time at the moment.

Correct. Increment will follow inflation so dalam 3-4% only. Bonus will be based on performance so those with a rating of 2 will get bonus

Cannot. That is asking HR, who likes to feel powerful, to sacrifice themselves. Never goin to happen

I thought Repsol is trying to sell all their Asia pacific assets?

Downstream is doing okay. Feedstock prices are low and margin is high.

Ten years ago when I was reviewing the FDP, the reserves for Malikai is not so big. I guess they must have found more reservoir zones then.

Petronas is not listed so macamana nak calculate the value. maybe Fortune will give an idea because Petronas is very particular about their listing as a Fortune 100 company.

Brent @ 41 bucks