Ta Win to cut over half of workforce from Sept 11
The group expects the decision to affect approximately 39 employees, representing about 52% of its subsidiary Ta Win Industries (M) Sdn Bhd's total workforce.
Ta Win Holdings Bhd has announced that its subsidiary, Ta Win Industries (M) Sdn Bhd, will be cutting its workforce by over half, starting from September 11. This workforce rationalization exercise will impact roughly 39 employees, accounting for approximately 52% of the group's total workforce. The decision comes after a thorough review of the company's operational efficiency, current market conditions, and long-term sustainability.
According to a Bursa Malaysia filing, the exercise aims to streamline operations, merge functions, eliminate redundancies, improve the group's cost structure and financial performance, and align the cost structure with current market demand. The company explained that certain roles and functions have been identified as redundant following a comprehensive review of staffing requirements across its operations.
Affected employees will receive additional support, including career counseling and job placement assistance. The restructuring is expected to have a significant impact on the group's earnings for the financial year ending June 30, 2027, primarily due to one-off restructuring costs. However, the company anticipates that the exercise will contribute positively to cost savings and operational efficiency in the long run.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
