Coal India Limited, the world's largest coal mining company, is planning layoffs to cut costs. Its preparation has also started. In a statement issued on Tuesday, Coal India said that to bring down the cost of the company, the number of employees will be reduced by 5 percent every year. This process will continue for 5 to 10 years.
Presently 2,72,445 employees are working in the mining company Coal India. Government-owned Coal India Limited on Monday announced the March quarter results for the financial year 2020-21. During this period, the company's consolidated profit declined marginally by 1.1 percent to Rs 4,586.78 crore. The decrease in profit was due to lower sales. A day after the March quarter results, the company has given information about laying off employees.
The company will close many mines
In a statement issued by the company, it was said that it will also close many mines. Of these, 158 are underground mines, which employ 43 percent of the workforce, while their contribution to the total production is only 5 percent. The company said that the process of closing those mines of Coal India, which are not making a profit, is going on in a phased manner. Production from 11 such underground mines has already been stopped.
Know how much loss the company suffered
Let us inform you that the company said in the information given to the stock market on Monday that its consolidated sales in the quarter January-March 2020-21 declined to Rs 24,510.80 crore as compared to Rs 25,597.43 crore in the corresponding quarter of the financial year 2019-20. However, the company's expenditure in the January-March 2020-21 quarter declined to Rs 21,565.15 crore as against Rs 22,373.046 crore in the corresponding quarter of 2019-20.
Coal India said that its board has recommended an additional dividend of Rs 3.50 per share at the face value of Rs 10 per share for the financial year 2020-21. The members will approve it in the upcoming Annual General Meeting of the company. The company has recommended paying an extra dividend than anticipated. On Monday, the share price of Coal India fell 2.1 percent to Rs 159.20.
Moosewala Murder: Five arrested for making fake passports of conspirators, one woman included
The South District Police has busted the gang that made fake passports of gangsters and arrested five accused, including a woman. They were identified as Rahul Sarkar, Arjit Kumar alias Ajit Divan
Ukraine got ultra-modern air defense system: Germany gave its most powerful air defense system IRIS-T SLM
President Volodymyr Zelensky demanded an air defense system from the G-7 countries after the Russian attacks on Ukraine. After this Germany sent the first of its four IRIS-T SLM, Ultra Modern Air
CM Yogi: 'The same thing is happening in Bangladesh today as happened in 1947', CM Yogi said - Hindus there are pleading for their lives
In a tribute meeting organized on the occasion of Partition Horrors Remembrance Day in Hazratganj, Lucknow, UP Chief Minister Yogi Adityanath said that what happened in 1947 is happening in Pakistan
Weather Update: Chance of rain in these districts of UP and Bihar, relief from 'Loo' in North India, know today's weather
There is going to be relief from heat and heat in most of the states of North India. A low-pressure area has formed over Delhi, Punjab, Haryana, Uttar Pradesh, and Himachal Pradesh due to which strong
Imran Khan's troubles increased, and a case was registered for taking restricted funding from abroad for the party
The troubles of former Pakistan Prime Minister Imran Khan are not taking the name of lessening. In this episode, the Federal Investigation Agency (FIA) on Tuesday registered a case against the former
Raja Murder Case: The court also sent the fourth accused Anand on transit remand, now Shillong Police will take all four
Anand Kurmi, the fourth accused in the Raja Raghuvanshi murder case, was presented in court on Tuesday morning. From there, he was also sent on a seven-day transit remand. He was brought from Bina to
The US Shooting: Firing again in America, two killed in firing outside the church; shooter also stacked
The incident of shooting has once again come to the fore in America. Two people were killed in a shooting outside a church in Ames on Thursday night. The shooter has also been killed in the incident.
Akash Ambani became the chairman of Reliance Jio, Mukesh Ambani did the design from the director's post
There has been a major reshuffle at the management level in Mukesh Ambani's company Reliance Jio Infotech Limited. In the information given to Market Regulatory SEBI (SEBI), Reliance Jio said that the
DeepSeek: 'Sensitive data from Chinese AI startup DeepSeek leaked on the internet', claims Israeli cybersecurity firm
Sensitive data of Chinese AI startup DeepSeek is being claimed to have been leaked on the Internet. Israeli cybersecurity firm 'Wiz' has claimed that it has received a large amount of sensitive data
Russia Ukraine War: The International Atomic Energy Agency cut off contact with the Chernobyl Nuclear Plant between Russia and Ukraine War
Today is the 14th day of the war between Russia and Ukraine. Russia has ordered a ceasefire in Ukraine for Wednesday. It will start at 10 a.m. Moscow time on Wednesday. Meanwhile, The Coca-Cola
