Sritex Employee Numbers Shrink Since the Start of the Pandemic

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Adi Ahdiat 30/10/2024 19:22 WIB

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According to the company's financial reports, the number of Sritex employees has been steadily declining since the beginning of the Covid-19 pandemic in 2020.

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Sritex Employee Numbers Shrink Since the Start of the Pandemic

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Sritex Employee Count (2017-2024)

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The Semarang Commercial Court declared PT Sri Rejeki Isman Tbk, or Sritex, bankrupt in October 2024.

This decision followed Sritex's failure to repay its debt to PT Indo Bharat Rayon.

Based on its financial reports, Sritex has consistently been operating at a loss for the past few years. Its workforce has also been shrinking since the beginning of the Covid-19 pandemic.

Previously, in 2017, this textile issuer with the stock code SRIL had approximately 16,000 employees. Then, in 2018-2019, its workforce increased to around 18,000.

However, starting in 2020, the number of employees steadily decreased, leaving approximately 11,000 by June 2024.

Following Sritex's bankruptcy declaration, the government is now working to prevent further layoffs.

"The government is very concerned [about Sritex's fate]; layoffs must not happen, that's the number one priority," said Minister of Manpower Yassierli, as reported by Liputan6.com (29/10/2024).

"So we are asking Sritex to continue production as usual, and we are asking all employees to remain calm, because the government will provide the best solution," she said.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Sritex Employee Numbers Shrink Since the Start of the Pandemic

Sritex Employee Numbers Shrink Since the Start of the Pandemic

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Sritex Employee Numbers Shrink Since the Start of the Pandemic

Sritex Employee Numbers Shrink Since the Start of the Pandemic

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Public Rates Central Government's Economic Performance as Poor (September 2025)

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