Coal India will reduce manpower by 5% every year for next 5-10 years

The Indian government-owned coal mining and refining corporation Coal India Limited, on Tuesday, said it will reduce its manpower by 5% every year for the next 5-10 years to reduce costs. The company will also close unviable mines.
 

The announcement has come just a day after Coal India saw its profit for the fiscal year 2020-21 (FY21) fall by 23.9% due to low demand from both the power and metal sectors amid the Covid-19 pandemic. 
 

This is a steep fall for the CIL as it battles falling coal demand. 
 

The company's income fell by 8.5 per cent during the last