Indonesia's Textile Turmoil: 280,000 Jobs on the Line!
Indonesia's textile industry is bracing for a crisis as up to 280,000 jobs could be at risk by 2024. The sharp increase in potential layoffs is largely attributed to Trade Ministerial Regulation No. 8 of 2024, which has eased import restrictions, boosting competition and threatening local businesses. With 60 companies already planning layoffs, the government is under pressure to find solutions to avert this economic disaster. We've got the full scoop on what's happening and what could go down if action isn't taken!
Dec 26