Selangor Journal

2016: More than 6,000 GLC & MKD workers retrenched

KUALA LUMPUR, OCT 26: The Finance Ministry has stated that more than 6,000 employees of government linked companies (GLC) and government-owned companies under Ministry of Finance Incorporated (MKD) lost their jobs this year. Of this number, 5,134 workers served under GLC.
There is a total of 4,682 contracts terminated or not renewed by Malaysia Airlines Systems Bhd (MAS).
The remaining balance are from MAS (2), Affin Group (149), Boustead Holding Bhd (151) and Chemical Company of Malaysia Bhd (153 people).
Meanwhile, two companies under MKD also followed suit, with a total number of 1,000 retrenched employees from Petroleum National Bhd (Petronas) and 36 employees from Bank Pertanian Malaysia Berhad (Agrobank).
“The retrenchment of jobs is due to several factors, including the termination of company operations, mergers and changing environments of businesses with changes of time.
“However all companies ensured that all affected employees were offered fair monetary compensation, which were according to existing collective agreement rights,” said the Finance Ministry at parliament on October 25.
The statement was issued as an answer to a question by Lim Lip Eng (DAP-Segambut), regarding statistics of job loss resulting from GLC and MKD workers reduction this year.

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