SOCAR dismisses claims of mass layoffs

Information circulating on social media about alleged mass layoffs at the State Oil Company of Azerbaijan Republic (SOCAR), which is not based on official sources, is false, SOCAR said in response to an inquiry from Report.

The company said that its average annual employee turnover rate stood at 2.4% in 2024–2025, with the majority of departures resulting from natural staff attrition.

SOCAR emphasized that improving corporate governance, increasing operational efficiency, optimizing business processes, and developing human capital are among the key priorities of its Corporate Strategy through 2035. The company noted that all related measures are being implemented in full compliance with Azerbaijan's labor legislation.

The company also stated that in 2025 its ESG performance was assigned an ER3 rating by the international ratings agency Sustainable Fitch. In 2024, SOCAR also became the first energy company in the Caspian region to receive an BBB ESG rating from the international agency MSCI.

SOCAR added that each company within the group operates as an independent legal entity and employer, conducting employment relations in accordance with Azerbaijani legislation.

The company called on the public and all stakeholders to rely exclusively on official information released by SOCAR.