Kazakh National Petroleum Company to layoff 25% of workforce

The Kazakh National Petroleum Company KazMunaiGas (KMG) will reduce the number of its employees by 25 per cent within two months, chairman of the company board Lyazzat Kiinov told media after a cabinet meeting on Tuesday.

"An average of 25 per cent of employees in KMG subsidiaries will be laid off, but the issue has not been resolved yet," Mr Kiinov said.

He said that the staff reduction will increase the efficiency of the company's activities. Production staff will not be reduced.

Source: Trend