Hundreds of Caltex employees opt for voluntary retirement scheme

Hundreds of employees of oil and gas company PT Caltex Pacific Indonesia (CPI) are expected to join the company’s voluntary retirement program, Bisnis Indonesia reported quoting Antara on Tuesday.

The early retirement program was offered to CPI employees in December 2003 and the last date for receiving applications for this program was Monday (January 5, 2004), said CPI’s media relations officer Djati Susetiya in Rumbai, Pekanbaru on Monday.

"The employees who opted for retirement program were in hundreds. The final figure will be announced officially within few days,” said Djati.

CPI, a subsidiary of San Francisco-based oil giant ChevronTexaco, has currently 6,000 employees.

CPI management opened this program because it wanted to have ideal and efficient number of employees in the company.

But CPI didn’t disclose about how many people it want to retain.

All the employees -- both who said they will retire and those who said they will remain as CPI employees -- will be given equal opportunity but the details of retirement benefits will be conveyed to each participant confidentially. (*)