Monday, January 4, 2010

Telkom paid IDR910 billion for early retirement

PT Telekomunikasi Indonesia Tbk (Telkom) spent some IDR910 billion fund to have early retirement in 2009.
President Director of Telkom Rinaldi Firmansyah said some 1,252 employees are terminated through the early retirement program.
"The early retirement 2009 cost IDR910 billion, but in the long run the program cut down the personnel cost by IDR380 billion per year," he said in public expose to Indonesian Stock Exchange last week.
The early retirement program was executed January 1 this year as part of the transformation business process from fixed, mobile and multimedia into telecommunications, information, media, and edutainment (TIME). "The company needs to achieve certain optimum figure and employment composition."
Rinaldi said Telkom currently has 23,154 employees with some 465 employees working at the subsidiary company. The Telkom early retirement program had lasted since 2002 up to 2009 with 12,568 staffers joining in.
The company has just shared interim dividend worth totally IDR524.19 billion or IDR26.65 per share. Referring to the dividend figure, the government tapped some IDR267.33 billion fund from 51 percent shareholding in Telkom. The dividend is set in the corporate boards of directors meeting November 18.

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