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Chinese steelmaker cuts 21% of workforce

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by Daily Commercial News

Chinese steelmaker Shougang Corp. will cut 17,500 jobs, or 21 per cent of its workforce, as it moves production out of its home base of Beijing under orders to cut pollution before the 2008 Olympics.

BEIJING

Chinese steelmaker Shougang Corp. will cut 17,500 jobs, or 21 per cent of its workforce, as it moves production out of its home base of Beijing under orders to cut pollution before the 2008 Olympics.

The total workforce will fall from 82,500 to 65,000, the China Daily said, citing Shougang chairman Zhu Jimin.

The number of employees in the Chinese capital will fall from 50,000 to 30,000 as some mill workers will be transferred to a new site, the report said.

The company is building a new mill in neighboring Hebei province in partnership with another Chinese steel producer.

The dismantling of Shougang’s sprawling facility, once one of China’s largest steel mills, is a centerpiece of efforts to clean up Beijing before the 2008 Summer Games.

Shougang’s headquarters and several non-steel subsidiaries in the machine and electronics industries will remain in Beijing, the China Daily said.

ASSOCIATED PRESS

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