KUALA LUMPUR: Petroliam Nasional Bhd said today it would not be downsizing although the group is in the midst of executing capital cost reduction measures to strengthen its resiliency.Petronas president and group CEO Tengku Muhammad Taufik Aziz said salary reductions would be undertaken across the board due to the challenging market conditions.
“We have explored various possible options . We also want to be a responsible management, so we do not want to pursue the path of reduction or retrenchment. “We will have to proceed and take shared pain as a workforce, but we are not in a position where we have to conduct retrenchments,” he told reporters here after announcing the group’s performance for the first half of the financial year, ending June 30, 2020.
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