Workers at the electronics components company PT Livatec have succeeded in regaining the majority of their unpaid wages by auctioning all of the factory's moveable assets.
Workers in Indonesia take things into their own hands after management abscond, leaving US$2.5 million in unpaid entitlements. Minutes after announcing the abrupt closure of the electronics components company, all of PT Livatec's managing directors absconded by ferry to nearby Singapore. They left owing around US$2.5 million in unpaid wages and severance pay to the 1600 mostly women workers. But with the assistance of IMF Affiliate FSPMI, the workers defied bank claims by occupying the factory and auctioning everything they could, including three Mercedes Benz cars left by the managing directors. Read full article in IMF Metal.