CEFC May Cut Half Its Workers, Though Rosneft Deal Alive, Official Says
- ‘Streamlining’ business during ‘difficult time’: official says
- Deal to buy Rosneft stake impacted but talks ongoing: official
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CEFC China Energy Co. may cut half of its 30,000-strong workforce as the sprawling conglomerate faces increased financial pressures and scrutiny from Beijing, said an official at one of its units.
A deal to buy 14 percent of Rosneft PJSC, however, remains viable despite being impacted by the company’s recent troubles, Zhuang Jianzhong, vice director of CEFC’s international research unit, said Wednesday on the sidelines of an energy conference in Shanghai.