Connect with us


More Than 50,000 Malaysians Will Be Losing Their Jobs in 2018


More Than 50,000 Malaysians Predicted To Lose Their Jobs In 2018 - World Of Buzz 3
Source: CBS News

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

Bad news, guys! It looks like more people will be losing their jobs this year as Malaysian Employers Federation (MEF) executive director Datuk Shamsudin Baradan has predicted that 2018 is going to be a challenging year for employees.

More Than 50,000 Malaysians Predicted To Lose Their Jobs In 2018 - World Of Buzz

Source: nst

According to The Sun Daily, Datuk Shamsudin said that he estimates more than 50,000 Malaysians will be left jobless this year. That’s a lot, though! This is because the job market is hit by several factors that will make it more challenging for employers as they have to contend with higher operating costs.

Some of these include the levy that employers have to pay for foreign workers, the Employee Insurance Scheme (EIS), increased maternity leave and the possibility of paternity leave, which will force employers to tighten their cost management. All these will increase their operating costs!

In addition, Datuk Shamsudin said that the minimum wage is due for a scheduled review in July, which will influence employers’ hiring process. He added, “With the raising of the retirement age, those who were suppose to retire in 2013 will be doing so this year. But this may not open up the labour market as some employers may not want to incur additional cost by replacing those who are retiring.”

So, who exactly will be affected by this retrenchment? If you are involved in the manufacturing sector then brace yourselves because it is expected that this industry will be hit the hardest. Other sectors that are affected include insurance, banking, retail and construction. However, it is expected that the plantation sector will remain relatively stable. Time to switch?

More Than 50,000 Malaysians Predicted To Lose Their Jobs In 2018 - World Of Buzz 2

Source: cbs news

In 2015, it was reported that 38,499 Malaysians lost their jobs but the number declined slightly to 37,699 in 2016. While the numbers for 2017 have not been officially released, as of September 2017, there have already been 30,700 Malaysians who were laid off. 

Okay, time to show your boss how hardworking you are!


Also read: Retrenched M’sian Employees Can Get Up to RM600 Allowance/Month in 2018

M'sians Who Get Retrenched Can Receive Up To Rm600 Allowance/month In 2018 - World Of Buzz 4

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

Just In

Beach Park Ft Beach Park Ft
News5 hours ago

Penang Beach Park Forced To Shut Down After Thousands Of Visitors Were Spotted

A beach park in Penang, Taman Rekreasi Pantai Robina (also known as Robina Eco Park), has been forced to shut...

Mitsubishi Mitsubishi
News6 hours ago

M’sian Man Who Drove Against Traffic & Killed 2 Teenagers Charged With Murder

The driver who drove against traffic and killed two teenagers on 12 September has been charged with murder at the...

Kk Kk
News7 hours ago

Mount Kinabalu & Other Tourist Sites Reopened To Fully Vaccinated Individuals Starting 16 Sept

It’s finally time for fully vaccinated individuals to gear up as Mount Kinabalu is now open to the public for...

Collage 3 5 Collage 3 5
News9 hours ago

523 Covid-19 Positive Individuals & Those Ignoring Home Quarantine Identified In Kedah

After more than a year of fighting the pandemic, some people are still violating the SOPs by endangering the lives...

Ppcc Ppcc
News12 hours ago

PM: B40 Households To Receive Self-Test Kits & Oximeters From Govt In Covid-19 Care Package

Prime Minister Datuk Seri Ismail Sabri Yaakob announced yesterday (19 September) that the government will allocate over RM471.6 million to...

Khairy Jamaluddin Booster Shot Khairy Jamaluddin Booster Shot
News12 hours ago

KJ: Booster Shots Expected To Be Given To High-Risk Groups Starting October

Many countries have started giving booster shots to their citizens and it seems like Malaysia is next to follow suit....

Wee Ft Wee Ft
News1 day ago

Transport Minister: More Public Transport Expected To Operate At Full Capacity Next Month

As Malaysia moves into the Covid-19 endemic phase, more public transport is expected to operate if domestic tourist destinations are...

Rnr Rnr
News1 day ago

Almost All R&Rs Along PLUS Highway Have Reopened, Those Fully Vaccinated Allowed To Dine In

As Klang Valley moves on to Phase Two of the National Recovery Plan (NRP), more rest stops (R&R) have also...


Latest Videos