China to cut 500,000 steel, coal jobs this year

AFP, BEIJING: China said yesterday it will cut 500,000 jobs in the steel and coal industries this year as it continues to trim excess capacity in the smokestack sectors amid a slowing economy.
Minister of Human Resources Yin Weimin, in announcing the cuts at a press conference in Beijing, said the laid-off workers will enter a job placement programme or be offered early retirement.

China to cut 500,000 steel, coal jobs this year

AFP, BEIJING: China said yesterday it will cut 500,000 jobs in the steel and coal industries this year as it continues to trim excess capacity in the smokestack sectors amid a slowing economy. Minister of Human Resources Yin Weimin, in announcing the cuts at a press conference in Beijing, said the laid-off workers will enter a job placement programme or be offered early retirement.