KUALA LUMPUR: More than 6,000 employees of government-linked companies and Finance Ministry-owned firms have been laid off this year alone, the Finance Ministry said today.
They were either terminated or did not have their contracts renewed, it added.
In a parliamentary written reply to Lim Lip Eng (DAP-Segambut), the ministry said, out of the 5,134 GLC employees affected, 4,682 were from Malaysia Airlines Systems Bhd (MAS) and another two were from the rebranded Malaysia Airlines Berhad (MAB).
Other GLCs which let go of their staff were Affin Group with 146, Boustead Holdings Bhd (151) and Chemical Company of Malaysia Bhd (153).
Apart from the GLCs, there were also 1,000 job cuts in Petroliam Nasional Berhad (Petronas) and 36 in Agrobank, both listed as Ministry of Finance Inc (MKD) companies.
“The terminations were caused by several factors, including the shutting down of operations, mergers, and adjustments for the current business climate.
“However, the companies have ensured that all employees involved were given financial compensation based on their respective collective agreements,” said the ministry.
Petronas had earlier this year announced that it had terminated 1,000 employees, marking the first major decision it had to make since oil prices began plummeting in June 2014.