2015 has been generally a bad year in Malaysia. It has been quite rough where a few commercial planes were lost, implementation of GST, the rapid decline in Ringgit value and the great fall in oil price which badly effects the government revenue. Here are some of the top retrenchment in Malaysia for the year 2015
1. MAS – 6,000 staffs
MAS has not seen rosy pictures for many years while it is still making loss. It also faces stiff competition with low cost carriers. The MH370 and the MH17 incidents was the catalyst even behind MAS big restructuring. MAS is scheduled to layoff around 6,000 to 8,000 staffs from 2015 to 2016. As compensation Those not offered jobs with MAS Bhd will be given one month basic salary for every year of service for those up to 10 years of service. Those who have served MAS for more than 10 years will get 1.5 months of salary for every year of service.
2. RHB – 2,700 staffs
RHB is looking to reduce its staff strength by 15% or about 2,700 via the CTS. The compensation is expected to be 1.25 multiplied by basic salary. Source : TheSundayDaily
3. CIMB – 2,000 staffs
CIMB had a bad 2014. CIMB annoucned their regional Mutual Separation Scheme (MSS) around May 2015. Around 2,000 of it staffs in Malaysia will effected by MSS
4. Shell – 1,300 Staffs
Shell is expected to cut around 1,300 jobs in 2 years time starting 2015. It has a total of 6,500 staffs in Malaysia.
5. Standard Chartered – 700 Staffs
Standard Chartered has a total of 6,870 staffs in Malaysia. From the latest report, the firm plans to reduce headcount in Malaysia by 11 percent
6. Intel – 600 staffs
Around May 2015, Intel shifts it’s operation from Kulim to China and Vietnam thus 600 if it’s workers were laid off. The Kulim plant begins it’s operating on 1995 while it manufactures items such as motherboard
7. JVC Kenwood – 500 Staffs
On July 2015, JVC Kenwood’s factory in Shah Alam shuts down while laying off 500 of it’s workers there. The operation was relocated somewhere else while workers were notified early 2015
8. Naza – 300 staffs
On August 2015, Naza Automotive Manufacturing (NAM) layoffs 300 of their staffs from Gurun Assembly plant in Kedah. NAM has a total workforce of 1,000 staffs while has been in operation since 2004.
Sources and figures were compiled from available news.