You are here

China expects to lay off 1.8m workers in coal and steel sectors

Beijing to allocate 100 billion yuan over 2 years to relocate workers laid off as country tries to curb overcapacity
Tuesday, March 1, 2016 - 05:50

BT_20160301_SYCHSTRAIN19JER_2142556.jpg
A miner at a repair depot for mining equipment at a coal mine of the state-owned Longmay Group in Heilongjiang province, China. Some 1.3 million workers in the coal sector could lose jobs.

Beijing

CHINA said on Monday that it expects to lay off 1.8 million workers in the coal and steel industries, or about 15 per cent of the workforce, as part of efforts to reduce industrial overcapacity, but no timeframe was given.

It was the first time China has given figures that

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom