Minister Teten Masduki Said About The Wave Of Layoffs That Blessed Startups In Indonesia

Indonesian Minister of Cooperatives and SMEs Teten Masduki. (Photo: Doc. Antara)

Minister of Cooperatives and SMEs Teten Masduki responded to a wave of layoffs (PHK) which has recently hit many startups in Indonesia.

"It did ( HAPPEN) all over the world, but I think this was apart from the recession but because of the approach they think they are evaluating," said Teten, quoted from Antara, Monday, December 20.

Teten also said the layoff storm was also a reflection of startups in looking at real businesses by not only increasing business valuations but building more specific markets or segments.

"That's why they started the IPO, right, they can't keep burning money," he explained. Previously, a number of startups in Indonesia cut off employment relationships with various driving factors not far from the global economy, namely Shopee, Grab to startups made by the Ruangguru nation's children, as well as startups labeled decacorn, Gojek Tokopedia (GoTo).

This cannot be separated as a result of the unstable global economy, a geopolitical conflict that is still happening which indirectly has a significant impact on business actors around the world.

Meanwhile, in dealing with a wave of layoffs from a number of startups, the Indonesian government has had a number of strategic steps to anticipate.

Efforts have been made, such as making efforts to make labor-intensive programs to accommodate laid-off workers, conducting vocational skills education, vocational education that lead to entrepreneurship, to providing social assistance or social assistance and economic empowerment of the community which is budgeted annually by the government.