China to lay off 1.8 million construction workers
CHINA has announced plans to fire around 1.8 million workers.
In an apparent bid to restructure the world's second largest economy, President Xi Jinping's reforms to the coal and steel industries would see around 15 per cent of the current workforce at risk of losing their jobs.
No timeframe has been given as the plans were announced by Yin Weimin, China's minister for human resources and social security.
It is the first time the country has made changes to its workforce as a result of the slowed economic growth and oversubscribed industries.
Mr Weimin said in a news conference 1.3 million workers in the coal sector could lose their jobs, plus 500,000 from the steel sector.
"This involves the resettlement of a total of 1.8 million workers. This task will be very difficult, but we are still very confident," Mr Yin said.