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.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!