The Number of Employees at Matahari Department Store Continues to Decline

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Adi Ahdiat 25/11/2024 18:06 WIB

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The number of employees at PT Matahari Department Store Tbk has been steadily declining since 2018 until September 2024.

Number of Employees at PT Matahari Department Store Tbk (2018-2024)

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The Number of Employees at Matahari Department Store Continues to Decline

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Number of Employees at PT Matahari Department Store Tbk (2018-2024)

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The number of employees at PT Matahari Department Store Tbk has decreased in recent years.

Between 2018 and 2019, this retail issuer with the stock code LPPF still had around 13,000-14,000 employees.

Then in 2020, when the Covid-19 pandemic broke out, the number of their employees began to decrease to around 9,800.

The decrease continued in subsequent years, until it reached approximately 8,300 employees in September 2024, the lowest record in the last 7 years.

This decrease in the number of employees coincides with a reduction in the number of their outlets.

In December 2018, PT Matahari Department Store Tbk still had 160 outlets throughout Indonesia. By September 2024, this number had decreased to 147 outlets.

Currently, they state that they are more selective in opening new stores.

"Remaining selective for new store networks and delaying openings until 2025," said the management of PT Matahari Department Store Tbk in their 9M/3Q 2024 Earnings Call presentation.

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."