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China announces plans to lay off 1.8 million state workers, around 15% of the workforce, in the coal and steel sectors to address overcapacity. The coal sector may see 1.3 million job losses, with an additional 500,000 job cuts in the steel sector. These sectors currently employ about 12 million workers. The move reflects China's efforts to address economic challenges and restructure its industries.
Sunday, 28 February, 2016