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
Tue, Mar 01, 2016 - 5:50 AM
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.
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...