After a cabinet meeting, Minister Partha Chatterjee said Eastern Distilleries and Chemicals Ltd had been in a bad shape for a long time.
"The Chief Minister has directed that all workers will be used. We will do restructuring and redeployment and there will be no loss of job. All will be absorbed," Chatterjee told reporters.
There are around 81 employees in the company.
Similarly, there would be restructuring in the state-run dairy Himul where all excess workers will be redeployed, the minister said.
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Chatterjee says this is being done to tackle the shortage of doctors in state hospitals.
The cabinet also approved the creation of development boards for the welfare of north Bengal communities of Kami, Damai and Sarki.
Asked about action against the 'Syndicate Raj' in real estate sector, he said the CM had already made it clear that strict action should be taken against culprits.