Former Sritex workers pin hopes on Danantara takeover

Former employees of bankrupt textile giant PT Sri Rejeki Isman (Sritex) are placing their hopes on a planned acquisition of the company's assets by Danantara, the state investment manager. These workers believe that the takeover will aid in resolving outstanding severance claims and other employee benefits, while also facilitating the factory's revival and their potential return to employment.

According to a representative of the ex-Sritex workers, who spoke on Monday, the group is still awaiting payments for severance, holiday allowances (THR), and other statutory benefits. Agus, the representative, emphasized that "normative rights, severance pay, and THR are nonnegotiable" for the former employees, as reported by Kompas.com. He further urged President Prabowo Subianto to support Danantara's plans for acquiring Sritex's assets.

The group of former workers was formed to voice their demands following the Semarang Commercial Court's declaration of Sritex's bankruptcy in October 2024. The company had laid off more than 10,000 workers in March 2025. The ex-employees are urging the administrators to complete the asset liquidation process without allowing personal interests to influence their decisions.

One of the key concerns highlighted is the fact that "many of our colleagues have already passed away while waiting for their severance payments," according to Agus.