The beleaguered mining sector in India has seen the loss of more than 200,000 direct jobs and an estimated 800,000 indirect ones due to the decline in domestic iron ore mining, as a result of curbs on mineral-rich states such as Goa, Karnataka and Odisha, Hindustan Times reported.
Almost all major companies have laid off workers in the downturn. The largest private sector iron ore miner in the country Sesa Goa pruned its staff by nearly 20% laying off nearly 900 employees.It has also deferred payment of 25% salaries of the top management and 10% for managerial employees. Its CEO P K Mukherjee took a pay cut of nearly 39% in fiscal 2012-13.
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