Sapura Energy to cut 20% of jobs

Its 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.

PETALING JAYA: Sapura Energy Bhd will be laying off 20% of its full-time staff worldwide, as it anticipates the economic slowdown caused by the Covid-19 pandemic, as well as oil price volatility, to affect its financial strength.

In a statement yesterday, 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.