Ta Ann plans to downsize workforceFriday 1 Jun 2012 Ta Ann Holdings is planning to downsize its workforce to offset rising costs as the Malaysian government implements a national minimum wage policy, according to a report by The Star.Group managing director and CEO Datuk Wong Kuo Hea outlined the plans at the timber conglomerate's annual general meeting, saying the policy would have a major impact on all industries in Sarawak, not just Ta Ann. Wong said Ta Ann employs between 5,000 and 6,000 workers, around 2,000 in its plywood division and 3,000 in its oil palm plantation. He suggested that the policy had been drawn up without proper consultation, especially with representatives from the timber and oil palm industries, and said Ta Ann would have no choice but to reduce its production and labour force. Wong estimated that the policy would add $20-$30/m3 to the cost of plywood production. Source: The Star, Sibu, Malaysia |
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