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View all search resultsFormer Sritex workers pin hopes on Danantara takeover
Former employees of the bankrupt textile giant are hoping that a takeover of the assets by the state investment manager would help settle outstanding severance claims.
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Former workers of textile company Sritex hold a banner on Jan. 12, 2026, during a protest in front of the Semarang District Court in Central Java. (Antara/Makna Zaezar)
F
ormer employees of bankrupt textile company PT Sri Rejeki Isman (Sritex) are hoping Danantara’s planned acquisition of the company’s assets will help settle their outstanding severance and other employee benefits, while also paving the way for the factory’s revival and their return to work.
A representative of former Sritex employees said on Monday that ex-workers were still waiting for payouts of severance, holiday allowances (THR) and other statutory benefits.
“For us, normative rights, severance pay and THR are nonnegotiable,” Agus said, as quoted by Kompas.com, adding that the group wanted President Prabowo Subianto to realize plans announced through Danantara to acquire Sritex assets.
He also urged the company’s administrators to carry out the asset liquidation process without personal interests influencing their decisions.
“Many of our colleagues have already passed away while waiting for their severance payments, so we also urge the administrators to immediately complete the liquidation process,” he said.
The group was formed to convey the demands of thousands of workers after the Semarang Commercial Court declared Sritex bankrupt in October 2024.
The company laid off more than 10,000 workers in March 2025.
