PETRONAS’ Rightsizing Plan Sparks Debate on Responsibility

Omar Mustapha, an entrepreneur and speaker, has raised concerns over PETRONAS’ proposed 10% workforce reduction under its “PETRONAS 2.0” transformation plan, potentially cutting 5,000 jobs. In a recent statement, he argues that while transformation is necessary, PETRONAS must balance financial goals with its responsibility to employees who have built its global reputation. Mustapha highlights PETRONAS’ strong financial position, with RM186.2 billion in cash and RM760 billion in assets in 2024, surpassing peers like Shell and BP.

Rightsizing Plan

He notes a 21% rise in asset productivity from 2015 to 2023 and consistent dividends to the government, averaging RM32-40 billion recently. Unlike other national oil companies like Aramco, which make minimal cuts, PETRONAS’ scale of reduction is significant. Mustapha urges a measured approach, emphasizing that transformation should not sacrifice the talent that drives Malaysia’s energy giant forward.

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