Utusan Malaysia is considering a Voluntary Separation Scheme (VSS) as a cost-cutting measure, reported The Star.

The report quoted the Malay daily's group managing director Mohd Noordin Abbas saying that it would be part of their restructuring exercise.

"I feel Utusan cannot escape the reality, which is the fact that a VSS must be conducted, as well as an overall cost-cutting measure.

“This is to prevent future situations where the company suffers losses amounting to millions each month,” he was reported to have said during the company’s annual general meeting (AGM) yesterday.

According to Mohd Noordin, the measure would help Utusan “rebuild from scratch”.

The daily's chief editor Abdul Aziz Ishak admitted that they are late to the party, as many other media outlets had conducted exercises similar to the VSS, in recent times.

“Utusan is overly concerned with its staff welfare, but the situation demands that we do something that we may not have considered before,” he was quoted as saying.

It was previously reported that the top management of Kumpulan Utusan Melayu, which publishes the newspaper, had informed staff that major restructuring was underway.

Utusan is majority owned by Umno, which suffered a crippling defeat at the hands of Pakatan Harapan, in the May 9 general election.

Following the loss, Umno has also resorted to austerity measures, such as cutting funding to its divisions and wings, nationwide.