What is the impact of the loss of employment in Malaysia?

The top 3 affected industries by employees who lost their jobs were the manufacturing industry (23,281), the second was wholesale and retail industries (15,023), followed closely by accommodation and F&B (14,427).

The 3 major reasons leading to LOE (loss of employment) were due to company downsizing (28%), business closure (25%), and voluntary/mutual separation schemes (23%).

Being a country that heavily relies on manufacturing, wholesale, and retailing, Malaysia is highly susceptible to disruptions in the global economic chain.

 

Hence, EIS (employment insurance system) serves as a great protector for employees in crisis when losing a job.