Jakarta, CNBC Indonesia – Immanuel Ebenezer, the Deputy Minister of Manpower, has shared insights regarding the bankruptcy ruling of PT Sri Rejeki Isman Tbk (SRIL), commonly known as Sritex. During a press conference held today, Monday (23/12/2024), he emphasized the importance of respecting the Supreme Court’s decision that declared Sritex bankrupt.

Nevertheless, he also pointed out potential involvement from certain parties in the bankruptcy process. Immanuel, often referred to as Noel, mentioned suspicions of what he termed “the hand of a devil” influencing Sritex’s path to insolvency. While he refrained from providing further specifics, he underscored the necessity for a deeper investigation into these indications.

“We suspect, yes, it’s a suspicion. That in this bankruptcy process, a devil’s hand is at play. That is the devil’s hand,” Noel stated.

However, when pressed for details about the identity of the “devil’s hand,” he simply replied, “Well, we will find out.”

Despite the legal ruling, Noel reassured that the government remains committed to protecting the interests of Sritex workers. He expressed optimism that the new management of Sritex following its bankruptcy will be dedicated to avoiding layoffs.

“We believe that after the Supreme Court’s bankruptcy ruling, the new management will also commit to not conducting layoffs. Because we view layoffs as a terrible step. We must ensure that there are no layoffs,” he asserted.

According to Noel, President Prabowo Subianto has maintained his initial position of ensuring there are no layoffs at Sritex. “Regarding the President’s stance, I believe it remains unchanged, which is no layoffs,” he remarked.

Foto: Pabrik Sritex (Bloomberg via Getty Images/Bloomberg) Pabrik Sritex (Bloomberg via Getty Images/Bloomberg)

Noel expressed hope that Sritex’s operations would continue despite the bankruptcy declaration. He believes that maintaining the company’s operations is crucial for ensuring labor stability and supporting the local economy.

“The ongoing operations of PT Sritex should not be halted. The company can continue operating, but we still hope that layoffs do not occur. This is our primary focus. Although we are surprised by the situation, it is an unavoidable legal decision made by the Supreme Court,” he commented.

As a precaution against potential adverse outcomes, the Ministry of Manpower (Kemnaker) has prepared various mitigation strategies. First, through the Job Loss Guarantee (JKP) program. This initiative will provide protection for workers who lose their jobs in the event of layoffs.

“There are several schemes and programs to anticipate potential layoffs,” he added.

Second, by opening up job markets. “We need to prepare job opportunities for those workers who may face layoffs. But that is the worst-case scenario,” he continued.

Third, training will be available at various Vocational Training Centers (BLK) primarily located in Central Java, including Semarang and Solo, to enhance the skills of affected workers.

“We do not want layoffs to become a terrifying monster for workers. The government stands with the workers of Sritex,” Noel emphasized.

Furthermore, Noel acknowledged that the current situation is a part of a global transition towards a new order. However, he hopes that the wave of layoffs affecting the world does not worsen in Indonesia.

“We do not want the country, workers, and employers to suffer losses. We must work together to find the best solutions,” he concluded.

(wur)

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Sritex CEO Warns of Layoff Threats, Deputy Minister Reminds of Prabowo’s Message