Indonesia to cut 40,000 jobs by year-end

Companies in Indonesia will have shed 40,000 jobs by the end of 2008 as a result of the global financial crisis, local media reported.

Indonesia to cut 40,000 jobs by year-end
About 23,000 workers will be let go in December, while 17,000 jobs were cut in previous months, Employment Minister Erman Suparno was quoted by Jakarta Post as saying on December 23.

The jobs are in the electronics and manufacturing sectors, the minister said.

The worsening economic climate will result in more losses in 2009, he said without providing details. Hundreds of thousands of Indonesian workers abroad also face possible redundancy, he added.

The same day, Head of the Indonesian Chamber of Commerce and Industry, Mohamad Suleman Hidayat, warned that as many as 150,000 people could lose their jobs in the first half of 2009.

Last Mod: 27 Aralık 2008, 14:40
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