investPenang: Mass layoffs unlikely as state has evolved

GEORGE TOWN: Large-scale retrenchments in Penang are unlikely as the state has evolved from being a manufacturing hub into a Global Business Services (GBS) centre, said investPenang director Datuk Lee Kah Choon.

“Retrenchments are part of the changing industrial landscape but multinational companies and small and medium industries in the state have adapted well to the global business market.

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