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Most Popular in Business: Krakatau Steel Reduces Employees, OJK Asks Citizens to Be Alert

TEMPO.CO, Jakarta -The most popular economic and business news throughout Saturday, September 25, 2021 starting with PT Krakatau Steel (Persero) Tbk. decided to reduce the number of employees by 62 percent to 2,929 people from the previous 7,710 people.

OJK continue to remind the public to always be vigilant in maintaining the confidentiality of their personal data, including in banking transactions.

Then the Minister of State -Owned Enterprises Erick Thohir said PT Kertas Kraft Aceh (Persero) or KKA is one of the state-owned companies that will be dissolved because it has not been operating for a long time.

Here is a summary of the three stories:

1. Krakatau Steel Reduces the Number of Employees by 62 Percent, Here’s Why

PT Krakatau Steel (Persero) Tbk. decided to reduce the number of employees by 62 percent to 2,929 people from the previous 7,710 people. This is done as a form of organizational strengthening and employee regeneration, which is currently dominated by young employees, so that performance becomes more productive.

Krakatau Steel President Director Silmy Karim said the company is now developing potential young leaders in each unit and directors in both the parent and subsidiary companies. “Krakatau Steel has also downsized the number of employees by 62 percent from 7,710 employees to 2,929 people,” he said in an official statement, Friday, September 24, 2021.

As of August 2021, Silmy said, Krakatau Steel had re-pressed fixed costs up to 16 percent and variable costs up to 8 percent. This efficiency measure continues the savings made in 2020 by reducing operating costs by up to 41 percent.

Silmy explained, in terms of transformation, this state-owned steel producer has changed the work culture into a performance culture so that the work process becomes more agile and faster. “In accordance with our new vision and mission, currently Krakatau Steel is more competitive, profitable, and reliable,” he said.

Read the full news here.

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