Sapura Energy to lay off 800 workers

  • Energy
  • Thursday, 25 Jun 2020

KUALA LUMPUR: Sapura Energy Bhd said on Thursday it would lay off 800 full-time employees worldwide, joining its global peers in seeking to reduce cost as the industry continue to struggle with weak oil prices and the economic fallout from the Covid-19 pandemic.

In a statement today, chief executive officer Tan Sri Shahril Shamsuddin said it was necessary to right-size the organisation based on a focused business strategy, given the cyclical nature of the oil and gas industry.

“In our previous announcement, we had mentioned the need to reduce the workforce. As much as we tried to delay this decision, it is inevitable at this point," he said.

With a heavy heart, we would like to inform you that we are currently meeting several colleagues, at every job level, to discuss their departure from the company."

In this exercise, Shahril said the company plans to reduce about 20% of its full-time employees worldwide, of which 63 % were on contract, and the remaining permanent employees.

In late April, the company announced salary reductions that affected a third of its workforce.

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