Friday, September 29, 2023 | 00:35 WIB

Wave of retrenchment to continue in 2023 – Apindo


Jakarta, IO – The Indonesian Employers Association (Apindo) predicts layoffs will continue into 2023. Apindo chairman Hariyadi Sukamdani said this is primarily fuelled by the global recession which reduces demand for exports of labour-intensive industrial products, reported Tempo, Thursday (22/12).

Hariyadi said export decline might still occur in the first quarter of 2023 but he expects it to gradually recover in the following quarters.

“We hope to see a rebound in the second quarter. Hopefully the demand for our export commodities will increase so that it will have a positive impact on the economy,” he said.

Since the beginning of semester two of 2022, Apindo has noted that global demand for labor-intensive industries such as textile and apparel (TPT) and footwear, especially those from developed countries, has been in decline between 30-50 percent for next year’s first quarter delivery.

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“This has forced companies in the sector to significantly reduce production and, accordingly, working hours and number of workers,” he said. (un)


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