Krakatau Steel cuts jobs

Sat, 08 Jul 1995, 00:00 WIB | Source: JP

JAKARTA (JP): State-owned PT Krakatau Steel in Cilegon, West
Java, has received early retirement applications from 125 of its
530 laid-off employees.

The company's president, Soetoro Mangoensoewargo, said the 125
employees had been discharged in May and had been offered an
early retirement package which guarantees special compensations
and bonuses.

"A reduction in employment is being made within the
restructuring of the company," Ayup Sayrifudin, the company's
public relations manager, said as quoted by Antara news agency,
on Wednesday.

Under its restructuring program, Krakatau Steel plans to
reduce the number of its employees from 9,000 to 6,000. (04)

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