layoff

One of the largest state-owned entities ends with billions in debt

Cuts will involve around 1,500 compulsory layoffs from workforce of 33,000

Layoffs part of massive restructuring plan to save billions by 2029

Job cuts will focus mainly on high-paid roles

No explanation was publicly given for the cuts, but the reasons are clear

Accumulated losses of the country’s biggest industrial unit surge to Rs177.78 billion

The aerospace and defense company said the extra job cuts would include managers and executives

Protesters said employment of 120 labourers working at mill for past four to 12 years was terminated unlawfully