InvestorQ : Is it true that Coal India is planning to aggressively lay off its staff?
Moii Chavate made post

Is it true that Coal India is planning to aggressively lay off its staff?

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Tisha Malhotra answered.
6 months ago
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To be more precise, this is not a one-time lay off but a gradual reduction in staff over next 10 years to cut down on costs. The focus will be business oriented. Coal India will reduce 5% manpower each year over next 10 years. Currently, Coal India has around 2.75 lakh workers on its rolls with many more on contract basis.

Coal India has about 158 underground mines accounting for 43% of the workforce deployed but these mines contribute just 5% to coal production. CIL has 80% domestic coal output share and is targeting 1 billion tons coal output by end FY2024. That will be achieved by saving costs on these unviable mines that are guzzling costs.

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