August 28, Colombo (LNW): The Ceylon Petroleum Corporation (CEYPETCO) and the Ceylon Petroleum Storage Terminals Ltd. (CPSTL) have initiated a restructuring programme aimed at gradually reducing their workforce, with the goal of improving operational efficiency and long-term sustainability.
According to Mayura Nettikumara, Managing Director of CEYPETCO, the staff reduction will be carried out through natural attrition, primarily by not replacing employees who retire.
He emphasised that no compulsory layoffs are planned as part of this transition.
Currently, the combined workforce of the two state-owned entities exceeds 3,200 employees. The restructuring plan seeks to bring this number down to approximately 2,035, aligning with industry benchmarks and the organisations’ evolving operational needs.
The process is expected to take place gradually over the coming years, allowing for a smoother transition without disrupting ongoing services.
