Coal India has decided to add 25,000 workmen over the next five years while three times as many workmen employed by the state run miner are scheduled to retire during this period, a move that is expected to double its productivity per employee and reduce cost of production by about 10 per cent.
The average age of employees will decline from 50 to 45 over the next five years following the net reduction of 50,000 workmen. At present, Coal India has a staff of 3.45 lakh, of which about 40,000 are officers and the rest workmen. The company will recruit 5,000 workmen every year for the next five years while 15,000 will retire.
Read the Economic Times news report here.