Coal India has announced that it will reduce its manpower by 5 per cent each year in the next 5-10 years to improve productivity and reduce operational costs. The company’s vision is to “emerge as a global player in the primary energy sector committed to provide energy security to the country,” CIL said in an earnings call a day after declaring its March quarter results. The world’s largest mining company has 2,72,445 employees as of FY20.
Coal India also spoke about plans to close unviable mines. “Action is being taken to close the unviable mines in CIL in a phased manner. Production from 11 such Underground mines has already been suspended,” CIL emphasized. As many as 158 underground mines employ 43 per cent of the workforce and contribute a mere 5 per cent of the company’s total production.