SOCAR: Claims of mass layoffs are not true

Information circulating on social media about mass layoffs at the State Oil Company of Azerbaijan (SOCAR), which is not based on official sources, is not true.

This was stated by SOCAR in response to an inquiry from Report.

The company noted that in 2024-2025 the average annual level of staff turnover was 2.4%, with the bulk of it accounted for by the natural outflow of employees.

SOCAR emphasized that improving corporate governance, increasing operational efficiency, optimizing business processes, and developing human capital are among the key directions of the Corporate Strategy through 2035. All relevant measures are being implemented in compliance with the requirements of labor legislation.

The company also reported that in 2025 SOCAR's activities in the field of ESG were assessed by the international rating agency Sustainable Fitch with an ER3 rating. In 2024, the company also became the first energy company in the Caspian region to receive a BBB ESG rating from the international agency MSCI.

SOCAR added that each enterprise of the group is an independent legal entity and employer and conducts labor relations in accordance with the legislation of Azerbaijan.

The company called on the public and interested parties to rely exclusively on official information from SOCAR.