VSS scheme necessary for Utusan’s future, says Group MD

1 year ago

Abdul Aziz Sheikh Fadzir appointed as Utusan’s Executive Chairman

Group managing director Datuk Mohd Noordin Abbas said that Utusan Malaysia has to consider a Voluntary Separation Scheme (VSS) as part of its restructuring exercise.
Noordin said that VSS will prevent future situations where the company suffers losses amounting to millions each month during the company’s annual general meeting June 6. He also added that the exercise will likely reduce the workforce by 50 percent from 1,400 staff, but added that the company needed to find the funds first.
Utusan chief editor Datuk Abdul Aziz Ishak admitted it was late in taking the VSS step, considering some other media outlets had conducted similar exercises in recent times.
“Utusan is overly concerned with its staff welfare, but the situation demands that we do something that we may not have considered before,” he said.

Meanwhile, Utusan Melayu has appointed Abdul Aziz Sheikh Fadzir (pic) as its executive chairman effective June 7.  Aziz who was previously an Umno MP for Kulim-Bandar Baharu graduated with a bachelor’s degree in accounting from Indiana University in the United States.
He will be taking over Tan Sri Mohamad Fatmi Che Salleh who resigned on May 15 as the non-executive chairman.

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