GLC's laid off over 6,000 employees this year

KUALA LUMPUR: Over 6,000 employees have been laid off from seven government-linked companies (GLCs) this year.
In disclosing this, the Finance Ministry said today the reasons for discontinuing their employment includes termination of operations, merging of entities and business adjustment process.
The ministry was responding to a question from Lim Lip Eng (DAP-Segambut), who had asked the ministry to state the statistics of those who lost their jobs following the layoffs.
"There are five GLCs, under the G20 group, that have terminated or discontinued the employment contracts of a total of 5,134 workers," the ministry said in a written a reply.
The Malaysian Airline System Bhd (MAS) recorded the highest number of retrenchments amounting to 4,682 workers.
The Affin Group had laid off 146 workers, Boustead Holdings Bhd some 151 workers, Chemical Company of Malaysia Bhd some 153 workers and Malaysian Airlines Bhd laid off two staff.
"Meanwhile, there are two companies under the Finance Minister Incorporated that have laid off its employees – a total of 1,000 workers from Petroliam Malaysia Berhad and 36 workers from Agrobank," the ministry said.