COO Danantara Opens Voice About Indofarma Mass Layoffs

Chief Operating Officer (COO) of the Danantara Investment Management Agency (BPI), Dony Oskaria (Photo: Mery Handayani/VOI)

TANGERANG - Chief Operating Officer (COO) of the Danantara Investment Management Agency (BPI), Dony Oskaria opened his voice about the news of the mass layoffs (PHK) by Indofarma on 413 employees, leaving 3 people on September 15, 2025.

Dony said the move was not layoffs in the sense of dismissal but part of the red plate pharmaceutical company's restructuring and restructuring strategy.

"Actually, it's not a layoff, but we are offering an offering for that restructuring, but some of it is re-recruit," he said at the Garuda Center Operations, Tangerang, Banten, Thursday, November 13.

As part of the arrangement of the pharmaceutical SOE ecosystem, Dony said Indofarma would later be consolidated under PT Kimia Farma Tbk.

Furthermore, Dony said this step was part of the government's strategy to strengthen the national health industry.

"This is part of the turn around process. Later Indofarma will enter under Kimia Farma. Then become consolidated," he said.

On the other hand, Dony said Danantara would not inject capital into Indofarma if the company was not in good health.

"If the company is not included in the health profile, it's useless to give money from a business that doesn't exist. So we have to be logical. If it's people's money, later we want to share it, if we don't find it, it's dangerous, right. Well, we'll count this in Indofarma too. Later Indofarma will join Kimia Farma," he said.

Previously, PT Indofarma Tbk (INAF) terminated 413 of its employees. This decision left the remaining 3 employees on September 15, 2025.

Based on the financial statements in the third quarter of 2025, Indofarma management said the step was taken in order to carry out operational cost efficiency.

The efficiency is an obligation because INAF is bound by Homologation Decision Number 1267 K/Pdt.Sus-Pailit/2024 jo. Number 74/PDT.SUSPKPU/2024/PN.NIAGA.JKT/PST which is effective from March 25, 2025.

"On September 15, 2025, the company has carried out a rightsizing of 413 employees, so practically as of September 15, 2025, the number of employees is 3 people," Indofarma management wrote in the information disclosure of the Indonesia Stock Exchange (IDX), quoted Friday, November 7.

However, at the end of September 2025, the company re-recruited 18 employees. That way, the number of employees as of September 30 became 21 people.

"Additional employees will be adjusted to the need for Human Resources to run a limited business model according to Homologation Decision," the management wrote.

Management said the efficiency of operating costs covers all components of inefficient and productive operating costs to reduce costs and increase profitability.

Management also said that the adjustment of the number of workers was carried out with a limited business model. So that operational activities can take place more efficiently.

For your information, until the third quarter of 2025, Indofarma recorded a loss of IDR 127.09 billion. This figure decreased by IDR 39.4 billion or 23.7 percent compared to losses in the third quarter of 2024 which reached IDR 166.5 billion.

The company recorded a 2.9 percent decrease in net sales to IDR 133 billion in the third quarter of 2025, from IDR 137.9 billion in the third quarter of 2024.

Indofarma also recorded liabilities of Rp1.47 billion, where the largest debt came from loans to shareholders worth Rp535 billion, business debt to third parties amounting to Rp282 billion, and tax debt of Rp264 billion.

Meanwhile, the equity of a subsidiary of PT Bio Farma (Persero) was recorded to be still negative at IDR 890.94 billion until the third quarter of 2025.