JSW miner to layoff 1,700 employees
14:51
WSE-listed miner JSW reduced employment by 1,200 workers in H1 and expects to cut its headcount by an additional 500 employees in 2015 and another 1, 200 next year as a result of miners retiring or using disability benefits, the firm said in a press statement
The company headcount is expected to stand at 24,700 at end-2015 with layoffs bringing savings of some PLN 150 mln annually, the statement indicated. "The firm does not expect to cut employment in other ways," the statement read.
JSW but will try to maximize internal organizational reserves of the firm instead of hiring new people, the firm's CEO said as cited in the statement.
