SAIL to slash 20,000 jobs by 2011: report

SAIL to slash 20,000 jobs by 2011: report
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First Published: Tue, Jun 23 2009. 10 39 AM IST
Updated: Tue, Jun 23 2009. 10 39 AM IST
New Delhi: State-run Steel Authority of India Ltd, the country’s leading steel maker, will cut its workforce by about 15%, or 20,000 by 2011, the Hindustan Times reported on Tuesday.
The reduction will be achieved by not replacing retiring employees, the newspaper said.
Chairman S.K. Roongta told the paper the company was planning to eliminate 6,000 jobs during the current year, after cutting its employee strength by 7,000 during the last financial year to March.
It was not immediately clear whether Roongta told the paper about the 20,000 cuts planned by 2011.
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First Published: Tue, Jun 23 2009. 10 39 AM IST
More Topics: SAIL | Steel | Jobs | Layoffs | Corporate News |