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Latino Daily News

Wednesday January 16, 2013

Pemex Prepares to Lay Off 15,000 in Mexico

State-owned oil giant Petroleos Mexicanos, or Pemex, plans to cut at least 15,000 jobs as part of a reorganization, press reports said.

Pemex currently has 111,000 career employees and 27,000 other workers appointed to positions and “whose number doubled in the past six years,” the El Universal newspaper reported.

Pemex representatives contacted by Efe did not comment on the press reports.

The job cuts will affect more than half of the appointed employees at Latin America’s largest corporation, the newspaper said.

El Universal did not say when the job cuts would occur, but it said the focus would be on “administrative positions.”

The goal is to eliminate duplication of functions and make the oil giant more efficient, the newspaper said.

The leftist opposition Party of the Democratic Revolution, or PRD, presented a plan on Monday to reform and modernize Pemex by increasing investment in the oil giant and giving it more financial and management autonomy.

Pemex, the world’s No. 4 oil producer with output of about 2.5 million barrels per day, is the biggest contributor to Mexico’s Treasury.