Last year 44,000 Malaysians were retrenched but this year the outlook is even worst.
Malaysian Employers Federation executive director Datuk Shamsuddin Bardan said that up to September, 31,476 people have been laid-off.
He said the next few weeks are also expected to be the most crucial as employers usually lay off workers around year end to avoid bonus payments and increments.
“What happened in the US and Europe will have a lot of bearing on the sustainability of our employees.
“If the US president-elect (Donald Trump) takes a protective stand, this will be more difficult for the export market. The same thing may happen in parts of Europe such as the UK.
“On the home front, the market is discouraging with the increase in prices of products despite consumers trying to save. This is not helping growth,” said Shamsuddin during a press conference after the launch of the federation’s survey on salaries.