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 Petronas cut job 10%, contract ggwp, No 6x bonus, ber1 make noise

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Syie9^_^
post Jun 5 2025, 08:08 PM

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QUOTE(nelson969 @ Jun 5 2025, 09:22 PM)
https://www.thestar.com.my/business/busines...r-profits-slump

PETRONAS to cut 10% of workforce after profits slump
CORPORATE NEWS
Thursday, 05 Jun 2025 5:57 PM MYT

PETROLIAM Nasional Bhd. will cut about 10% of its workforce in a firm-wide restructuring as the company looks to reduce costs due to falling crude prices and market volatility that has impacted its profits.

Malaysia’s state-owned oil firm will reduce headcount by upward of 5,000 people, Petronas Chief Executive Officer Muhammad Taufik said in a briefing in Kuala Lumpur on Thursday. It will also freeze hiring until December 2026, he said.
Petronas’ profits slid 32% in 2024, following a 21% drop in 2023. The challenges are slated to continue this year, in part due to a continued decline in Brent crude prices. - Bloomberg
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Cut 40% also good.

O&G is soon to be sunset industry.

Either the path-forward is to be dynamic energy producer OR be dinosaur.

Syie9^_^
post Jun 5 2025, 08:11 PM

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QUOTE(Jened @ Jun 5 2025, 09:36 PM)
Oh, this is very bad. 10% is a lot
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10% is little with 53000 workhorse.


Syie9^_^
post Jun 5 2025, 08:27 PM

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QUOTE(ameliorate @ Jun 5 2025, 09:55 PM)
Even petronas no more golden bowl. Only left gov jobs that are truly safe.
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govt job also will go. Soon.

Bloated like Fat cow with no productivity, Worst than Indonesia.

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Syie9^_^
post Jun 5 2025, 08:45 PM

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QUOTE(Jened @ Jun 5 2025, 10:00 PM)
Oh.. No. Work for big company also cal lose job.
So, that's why we need to save some money for emergency.
We never know what will happen tomorrow.
Very bad news  cry.gif
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In toxic Malaysia workplace kulture, there is no iron ricebowl.

any company can come and go. icon_idea.gif icon_idea.gif

QUOTE(ameliorate @ Jun 5 2025, 10:01 PM)
Tough to get rid of them. First they are unionised, second they are the voter bank for the gov of the day.

Yilong ma also failed.
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that is why Malaysia Regressing. Meanwhile Singapore hmm.gif

QUOTE(rcracer @ Jun 5 2025, 10:02 PM)
Is the Exxon staff they absorbed from last year. not their core staffs
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FIFO

This post has been edited by Syie9^_^: Jun 5 2025, 08:45 PM
Syie9^_^
post Jun 5 2025, 08:49 PM

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QUOTE(kaizoku30 @ Jun 5 2025, 10:14 PM)
Blame trump liao lo, his aura can squash mbs and now behave like awwww. Obediently lower crude oil price to end Ukrainian war at the same time end Middle East mess. 4D chess.
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Middle East increase output, OPEC+ delulu got demand. KEK.

+ uncertainty economic + Electrification + Alternative Energy coming to economic scale + Sustainable Aviation Fuel + Decarbonisation effort + Aging population + Cleaner air from methane gas and soon hydrogen fuel....


Who needs oil so much? Only those running 60 years old boomer power generator

This post has been edited by Syie9^_^: Jun 5 2025, 08:52 PM
Syie9^_^
post Jun 5 2025, 09:32 PM

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QUOTE(k!nex @ Jun 5 2025, 10:41 PM)
Thts bs .
O&G will be here for at least 100 years to come.
Sure, cars are transitioning to EV.
But what about cargo ships and aircraft ?
They all will rely on O&G for a long time to come.

And you know what need O&G industry ?

Medicine . As sulfur is mostly derived from refining crude oil these days.

Asphalt . Your road need tar which is the crud from refining crude oil..

Lubricants. Also comes from refining crude oil. Even EV needs them.

As global shipping becomes more in developing countries , there will be demand for fuel to power cargo ships.
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100 years sure, in your dream like the coal miners. laugh.gif

O&G sustained is about engineering feature.

Medicine : I pity you derived from O&G, no wonder toxic and harmful.

Asphalt: there is alternative to asphalt, basalt plenty around.

Lubricant: sure, but how much lubricant you need?

Global Shipping: they are also in decline, bigger ship and more energy efficient become more mainstream. Developing countries are not like 1960s.


QUOTE(bsa12 @ Jun 5 2025, 10:47 PM)
Oil price ia dropping, american shell oil is flooding market.
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Shale, not shell.

:x
Syie9^_^
post Jun 6 2025, 10:51 AM

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QUOTE(bsa12 @ Jun 6 2025, 12:18 PM)
Yes, smart a55
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use proper word; dont mislead others. biggrin.gif

This post has been edited by Syie9^_^: Jun 6 2025, 10:54 AM
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