Krakatau Steel Axes Thousands of Workers

By Editorial Team 27/08/2019
Summary

State-owned steel producer PT Krakatau Steel Tbk officially laid off thousands of their employees, in conjunction with the end of employee contract period on August 31, 2019. The Cilegon Steel Trade Union Federation (FSPBC) stated a total of 2,683 workers from nine vendors would have their work contracts terminated.

Employees must agree on a restructuring program after nine vendors, and the FSPBC Work Unit Management (PUK) signed a Joint Agreement on August 15, 2019. The agreement also mentioned that employees who got their contracts terminated would receive two times severance compensation.

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