News

Sapura Energy to cut 20 pct off its full-time employees worldwide

KUALA LUMPUR, June 25 -- Sapura Energy will be reducing about 20 per cent of its 4,000 full-time employees worldwide, of which 63 per cent are on contract while the remaining are permanent employees.

The company employs more than 10,000 people.

“It is necessary to right-size the organisation based on a focused business strategy, anticipating and managing the cyclical nature of the oil and gas industry. As much as we tried to delay this decision, it is inevitable at this point,” according to message to employees sent by chief executive officer Tan Sri Shahril Shamsuddin.

The internal email sent out late today was shared by Sapura Energy Corporate Communications with the media.

In late April, Sapura Energy announced salary reductions that affected a third of its workforce.

The leadership team took a 50 per cent pay cut while those earning less than RM10,000 were shielded from the measure.

Through the salary reduction, Sapura Energy managed to lower its manpower cost by about 7.5 per cent.

Apart from the severance package, Sapura Energy has allocated an additional RM1 million to help those affected to transition to their next career, which includes continuation of medical coverage for the next three months; help with personal branding, resumes, and interview skills; networking and job-leads to accelerate new career opportunities; advice on personal financial management; and entrepreneurial workshops for those wishing to start their own business.

“We have created a dedicated team, which include external experts, to deliver a comprehensive career transition programme to support your growth beyond employment with the company,” it said.

-- BERNAMA

 

 

 

 

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