Indonesia’s layoff crisis deepens as factories shut; growth hangs in the balance
Rising costs and cheap imports hit manufacturing sector hard; other industries are also bleeding jobs, though for different reasons
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[JAKARTA] A storm is brewing in Indonesia’s job market. Mass layoffs have surged by a worrying 20.2 per cent last year, with 78,000 jobs wiped out, and it is only getting worse.
In January alone, the country’s Ministry of Manpower data revealed that 3,325 workers were left without pay cheques, exposing cracks in South-east Asia’s largest economy.
Amid this crisis, President Prabowo Subianto is racing against time to reignite growth.
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