KUALA LUMPUR: Due to a lack of new jobs, UMW Oil and Gas Corp Bhd (UMW-OG) has revealed that it has shed some 300 employees as part of a group-wide cost-cutting exercise, which it said was necessary to address operating costs.
President Rohaizad Darus said the headcount reduction comprised workers who were on a contractual basis. The company currently has 736 employees, about a third of which comprise contract staff.
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