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Worker protests plunge Indonesian unicorn eFishery into turmoil amid fraud allegations, revenue scandal

The aquaculture startup faces intense scrutiny following accusations of inflating its September 2024 revenue by nearly US$600 million

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Elisa Valenta

Elisa Valenta

Published Thu, Jan 23, 2025 · 02:49 PM
    • More than 100 members of the workers’ union gathered in Bandung to urge the eFishery management and investors to address the accusations and resolve the turmoil disrupting operations at the company.
    • More than 100 members of the workers’ union gathered in Bandung to urge the eFishery management and investors to address the accusations and resolve the turmoil disrupting operations at the company. PHOTO: EFISHERY WORKERS' UNION

    [JAKARTA] Employees of Indonesia’s aquaculture startup eFishery have pushed back against allegations of systematic fraud within the company, staging a protest on Thursday (Jan 23) to demand transparency and a thorough investigation. 

    More than 100 members of the workers’ union gathered in Bandung – where one of the country’s most prominent startups is headquartered – to urge management and investors to address the accusations and resolve the turmoil disrupting operations at the company.

    The workers are also demanding that the company scrap its mass layoff plan and reconsider business lines that can be developed.

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