Wave of layoffs, deflation herald bleak Eid for thousands of Indonesians

Analysts told ST that these job losses arise from the government’s failure to protect domestic industries from foreign competition. -AFP

JAKARTA: The upcoming Lebaran or Eid al-Fitr celebrations will be less than festive for Sriyono, 52, who like many Indonesians goes by one name.

He is one of the over 10,000 workers at textile manufacturer PT Sri Rejeki Isman, popularly known as Sritex, who lost their jobs on Feb 26, after the company lost its court appeal against bankruptcy.