Updated
Updated · sea.peoplemattersglobal.com · Jul 13
Malaysia Records 42,807 Job Losses by June 12 as Manufacturing Sheds 8,702
Updated
Updated · sea.peoplemattersglobal.com · Jul 13

Malaysia Records 42,807 Job Losses by June 12 as Manufacturing Sheds 8,702

2 articles · Updated · sea.peoplemattersglobal.com · Jul 13

Summary

  • 42,807 workers had been displaced nationwide by June 12, with manufacturing accounting for 8,702 retrenchments, or 20.7% of the total, according to Human Resources Ministry data.
  • Rising operating costs and weakening global demand drove the losses, with wholesale and retail trade shedding 7,560 jobs and administrative and support services losing 4,239.
  • RM248.23 million in recommended EIS payouts has been approved across 134,123 benefit claims, covering job-search, reduced-income, re-employment and training support for affected workers.
  • More than RM580 million under the PACE resilience package is expected to support over 56,000 retrenched workers, while the government reviews the 2017 EIS law to raise benefits and add mobility assistance.
  • 2,697 insured jobseekers were approved for modular training by April 24, and PERKESO held 2,989 career carnivals in the first five months as Malaysia tries to speed workers back into jobs.

Insights

While Malaysia aids retrenched workers, what is being done to save the struggling businesses that employ them?
As global supply chain threats grow, can Malaysia protect its export-reliant economy from further job cuts?
Are Malaysia's retraining programs enough to outpace future job losses from AI and global economic shifts?