News Karnataka
Saturday, October 08 2022
Business

Coal India to cut manpower by 5% annually for next 5-10 years

Photo Credit :

New Delhi: One of the largest employers in India, the state-run Coal India Ltd (CIL), plans to reduce its manpower by 5 per cent annually for the next 5-10 years as part of its cost control measures.

In FY20, the company had over 2.72 lakh employees.

In its corporate presentation filed with the BSE, the public sector major mentioned: “Attrition of manpower: 5 per cent reduction in manpower annually for the next 5-10 years (FY20 base of 2,72,445 employees),” among other cost-cutting measures.

Further, the company would also shut its unviable mines to cut expenses.

About 158 underground mines employ 43 per cent of the workforce whereas they contribute 5 per cent to the total production, it said.

“Action is being taken to close the unviable mines in CIL in a phased manner. Production from 11 such underground mines has already been suspended,” it said.

CIL also said that it would focus on first-mile connectivity and infrastructure creation to reduce costs.

Coal India also said that for efficient operationalisation of greenfield projects, it has devised a transformative plan to engage MDO for 15 projects (10 OC and 5 UG) with a combined total targeted capacity of about 160 MTY and out of the 15 projects, work order has been issued for two projects of 45 MTY.

The remaining projects are at various stages of tendering and approval from NIT, it said.

Share this:
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Leave a Reply

Your email address will not be published.

Visit 7Jackpots and find the best online casinos in India! Play the most popular casino games for real money!

Find the best odds at 10Cric and ipl betting 2021! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp