Beware of Layoff Wave in 2023
The Indonesian Employers' Association (Apindo) has warned of a large wave of layoffs in the event of a global recession in 2023.
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Footwear factory workers leave the factory during lunch break in the Gerendeng area, Karawaci, Tangerang City, Banten, Monday (11/14/2022)..
The possible wave of layoffs, especially in the export-oriented, labor-intensive manufacturing sector, will be caused by reduced demand from a global recession, but also due to domestic uncertainties.
According to Apindo, as well as data from the Financial Services Authority (OJK), the National Social Security Council, and the Manpower Ministry from January to October 2022, at least 2.8 million workers had claimed their old age pension (JHT). Of these, 834,037 people claimed their JHT because they had been laid off (Kompas, 14/12/2022). It is believed that the actual number of people affected by layoffs is higher.