The country's largest telecommunications company, Telekom Malaysia Bhd said it has offered 30,500 staff a voluntary retrenchment scheme as part of a manpower rationalisation programme.

In a statement yesterday, Telekom Malaysia said the exercise was part of overall strategies announced last September aimed at making the group more profit-oriented and efficient.

"Based on a study conducted, Telekom Malaysia has one of the largest number of staff in comparison to other telcos in the region," the company said, adding that the lay-offs would enable it to benchmark cost and efficiency against other players.

How much will it cost?

The scheme was expected to be completed by end-April, it said.

Telekom Malaysia, a leading regional information and communications group, is one of the largest listed companies on Bursa Malaysia with an operating revenue of more than RM13 billion.

It did not say how much the retrenchment scheme would cost the company.