THE INDONESIAN state-owned oil and gas firm Pertamina is to cut its workforce by more than 33 per cent as it moves towards privatisation. Up to 10,000 jobs will go, reducing the workforce to 16,000. Some 2,000 employees will be let go every year even though the company admitted the action was " a drastic step" with a high social cost. Under the new oil and gas law, which came into force in November, Pertamina will lose its decade-long monopoly in the country's oil and gas sector and must transform to a limited liability company in two years. The ...

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