State-owned steel producer PT Krakatau Steel has denied rumors that the company will layoff more than 2,000 people in an effort to improve its financial performance.
The rumor is false, Krakatau Steel president director Silmy Karim said in a statement. There are many ways for a company to restructure its organization and firing employees is not always the way.
The rumor emerged following a report that the company was to carry out restructuring as part of its efforts to make the company profitable.
He said one of the moves would be streamlining, which ledpeople to believethat thecompany would layoff thousands of its employees.
Instead of laying off employees, he explained, the company would transfer the employees to its subsidiaries to …
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