Job losses in China as it struggles to counter industrial overcapacity and pollution

Last Modified: Mon Mar 06 2017 20:33:37 GMT+0530 (India Standard Time)
  • 1.8 million
    coal and steel jobs that will be shed in an effort to reduce excess capacity. The layoffs will occur over a period of 2-3 years.
  • 1.3 million
    jobs (around 20%) will be lost in the coal sector.
  • 500,000
    jobs (around 11%) will be lost in the steel sector.
  • 726,000
    coal and steel jobs lost in 2016, according to Yin Weimin, the country's minister for human resources.
  • 500,000
    approximate number of layoffs in heavy industries sector that are being contemplated.
  • $23 billion
    The Chinese leadership plans to spend (nearly 150 billion yuan) to cover for the cost of the layoffs especially in re-training, relocation and retirement.