Bankruptcies, layoffs hit Indonesia: Over 60,000 jobs lost in two months

Employees of PT Sri Rejeki Isman (Sritex) in Sukoharjo, Central Java (February 28, 2025). - Photo: Antara

JAKARTA: (Bernama) Mass layoffs have affected more than 60,000 workers across 50 companies in Indonesia between January and February 2025, according to the Labour Party and the Indonesian Workers’ Confederation (KSPI).

KSPI President Said Iqbal said its research has indicated that 30 per cent of these companies, including the renowned textile firm Sritex, have gone bankrupt, emphasising the widespread nature of the problem.