Coal India Ltd (CIL) is planning to shed 1,00,000 employees from its rolls over 10 years. CIL employs 3,99,000 people now, of which 40-45 per cent are concentrated in two of its subsidiaries — Eastern Coal Fields Ltd and Bharat Coking Coal Ltd.
The ‘lean and mean’ look is expected to boost CIL’s IPO, scheduled for July.
Company officials say almost all the reduction in workforce would be via natural attrition, like retirement, death and people leaving the company on medical grounds.
Voluntary Retirement Schemes would be introduced on and off.
CIL chairman Partha S. Bhattacharya said in the last 10 years, CIL has shed 180,000 people from its rolls, which has helped its subsidiaries turn profitable.
“We would reduce our workforce by another 1,00,000 in the next 10 years,” Bhattacharya said.
From April 1, 2009-March 1, 2010, CIL shed 13,982 staff.