Latest news with #jobcut
Malay Mail
3 days ago
- Business
- Malay Mail
DPM Fadillah: Petronas job cuts unrelated to Petros appointment as sole gas aggregator
KUCHING, June 7 — Petroliam Nasional Berhad's (Petronas) decision to cut over 5,000 jobs, along with a freeze on all promotions and recruitment until December 2026, is unrelated to the recent recognition of Petroleum Sarawak Berhad (Petros) as Sarawak's sole gas aggregator. Deputy Prime Minister Datuk Seri Fadillah Yusof clarified this when met by reporters at the Majlis Ibadah Korban held at Masjid Darul Husni Warrahmah here today. 'No, it has nothing to do with that. It is actually due to the global situation, particularly the decline and fluctuation in oil prices,' he said. Petronas had earlier stated that its internal budgeting was based on Brent crude prices averaging between US$75 and US$80 per barrel. However, the global benchmark has since fallen and is currently hovering around US$65 per barrel. 'Even for Petronas to remain sustainable, oil prices must be above US$60 per barrel. That is why they have to re-evaluate their position,' Fadillah added. — The Borneo Post
Reuters
5 days ago
- Business
- Reuters
Procter & Gamble to cut 7,000 jobs over two years
June 5 (Reuters) - Procter & Gamble (PG.N), opens new tab said on Thursday it would cut 7,000 jobs, or about 15% of its non-manufacturing roles globally over the next two years as part of its non-core restructuring program.
Auto Car
13-05-2025
- Automotive
- Auto Car
Nissan to cut 20,000 jobs, close seven plants and freeze all post-2026 projects
Close Nissan is to cut 20,000 jobs, close seven plants and freeze all post-2026 product work as part of an expanded global cost-cutting restructure aimed at stemming heavy financial losses. Announced today (13 May), the moves build on the Japanese firm's February announcement when it said it would reduce its workforce by 9000, close three plants, and slash production by 20% (to five millions units per year). Today's new numbers include those previously announced plans, Nissan says, and comes as it confirms a £3.8 billion net loss in the 2024/25 financial year.
Malay Mail
13-05-2025
- Automotive
- Malay Mail
Nissan reports massive US$4.5b loss, confirms 20,000 job cuts
TOKYO, May 13 — Japanese automaker Nissan posted a huge annual net loss of ¥671 billion (RM19.4 billion) on Tuesday while confirming reports that it planned to cut 20,000 jobs worldwide. The struggling firm did not issue a net profit forecast for the financial year that began in April but said it expected sales of ¥12.5 trillion. — AFP
Bloomberg
06-05-2025
- Business
- Bloomberg
UBS Cuts France Jobs Amid Credit Suisse Integration
UBS Group AG is cutting jobs in France as part of a plan to restructure some of its business activities in the country following the integration of Credit Suisse. The number of staff made redundant will be below 50 and the bank will provide support to the affected employees, a spokesperson for UBS told Bloomberg in response to questions. France continues to be a strategic growth market, the spokesperson said.
