Telkom continues early retirement program
PT Telekomunikasi Indonesia, Tbk. (TELKOM) announced that 1,252 employees will be retiring as a result of the 2009 early retirement programme. The program is mainly directed to employees aged 48 years old and above, mostly are administrative staff and access network technicians.
Telkom allocated Rp910 billion for the 2009 program, but argued annual saving of Rp300 billion in personnel cost from the program in the longer run. At the moment, Telkom has 23154 employees. About 12568 employees have retired under the early retirement program since 2002. Telkom is the largest company listed on Indonesia Stock Exchange (IDX) with market capitalization of US$20 billion.
Telkom booked net profit of Rp9.3 trillion in Jan-Sep 2009, increased almost 5% from the same period in 2008 (Rp8.9 trillion).