Sri Lanka’s Ceylon Petroleum Corporation (Ceypetco) and its subsidiary, the Petroleum Wholesale Terminals Company (CPSTL), have kicked off a grand “restructuring exercise” that promises efficiency—by quietly shedding 1,200 employees.
Managing Director Mayura Netthikumara assured that no worker will face “inconvenience,” stressing that the downsizing will be achieved naturally, by not filling positions vacated through retirements. According to the plan, the current workforce of more than 3,200 will be reduced to just 2,035, all in the name of modernization.
Ceypetco insists that this restructuring is not about mass layoffs but about trimming the fat to make the organization leaner and more productive. However, critics argue that this is little more than corporate sleight of hand, shrinking manpower while branding it as “efficiency” and “progress.”
The oil giant claims the move will strengthen operations and reduce excess costs. Still, for many, the silent evaporation of over 1,000 jobs is less about efficiency and more about papering over decades of mismanagement and overstaffing.
Sri Lanka’s petroleum sector, long plagued by inefficiency, political interference, and debt, is hoping this restructuring will provide a reset. Whether this trimming truly translates into better services or simply emptier offices remains to be seen.
