PRESS RELEASE
This material has been prepared to provide information, explanations, and clarifications to stakeholders regarding the latest developments at GNI. All information contained in this statement has been compiled based on the conditions and data available at this time. Further updates concerning GNI's developments will be communicated through GNI's official communication channels as necessary and in accordance with applicable regulations.
Jakarta, 06 August 2026
Ref. No. : 006/CC-PR/VIII/2026
Subject : Important and Urgent
To: Stakeholders, Employees, and the General Public
Workforce Optimization as an Effort to Maintain the Company's Operational Continuity
In response to reports circulating on social media and in the mass media regarding the termination of employment (layoffs) at PT Gunbuster Nickel Industry (the “Company”), the Company would like to clarify that this measure was taken following a comprehensive evaluation of the business conditions, the Company’s financial capacity, and its current operational requirements.
The Company understands that any decision concerning its workforce has an impact on employees and their families, the surrounding community, and all stakeholders. Therefore, the Company considers this measure to be a last resort, following careful consideration and the implementation of various efficiency measures across different aspects of its operations.
The decision to adjust the workforce was made after taking into consideration the following factors:
- The Company is currently facing significant financial challenges, as reflected in the ongoing Suspension of Debt Payment Obligations (PKPU) process. This situation has severely constrained the Company’s financial capacity, including its ability to meet various operational requirements.
- Under these circumstances, two of the Company’s three smelters are currently not in operation. To maintain business activities and minimize the impact on employees, the Company continues to make every effort to maintain the operation of one smelter, along with its supporting coal-fired power plant (PLTU), in accordance with operational requirements.
- Amid the Company’s continued losses, reducing operating costs has become an essential measure to safeguard business continuity. This effort is intended to enable the Company to continue operating while preserving opportunities for recovery in the future.
- Labor costs represent one of the Company’s major operating cost components. Given the Company’s currently limited operational capacity, it is necessary to adjust the workforce size to align with operational requirements and the Company’s financial capacity.
- Prior to taking measures to adjust the workforce, the Company had implemented various efficiency measures, including reducing operating costs across multiple areas, suspending recruitment, reducing overtime, adjusting working hours, transferring employees to other positions or work locations, and implementing various other cost-saving measures.
- With approximately 6,300 employees, while the Company’s current operations are focused solely on one smelter and its supporting coal-fired power plant (PLTU), adjusting the workforce size has become a necessary measure. This adjustment is intended to align the workforce with actual operational requirements, enabling the Company to maintain its business activities effectively while preserving the opportunity for future recovery.
Based on the results of the evaluation, the Company is currently implementing workforce adjustments as part of its efforts to align the size of its workforce with the Company’s operational requirements. This process is expected to affect approximately 1,900 employees and will be carried out in stages, based on the results of the evaluation and the Company’s operational needs.
The Company emphasizes that the entire workforce adjustment process will be carried out in accordance with the applicable labor laws and regulations in Indonesia. The settlement of the entitlements of affected employees will be carried out in accordance with the applicable laws and regulations.
The Company recognizes that this is not an easy decision. Nevertheless, this measure is necessary as part of the Company’s efforts to maintain operational continuity, sustain production activities, fulfill its obligations to stakeholders, and establish a stronger foundation for the recovery and long-term sustainability of the business.
We provide this explanation to ensure that accurate information is available regarding the workforce adjustment measures being undertaken by the Company. The Company will continue to provide updates through its official communication channels as necessary.
For and on behalf of
PT Gunbuster Nickel Industry
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