Will have to cut jobs if mining cap enforced: Sesa Sterlite

Posted By: Religare
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Sesa Sterlite Ltd said it may have to cut jobs if a top court sets a limit on the amount of iron ore it can mine in the state of Goa, said Reuters.

A panel appointed by the Supreme Court is due to give its recommendation on the issue by March 15.

"If our production is set at 70 percent of our current capacity, for example, we'll have to look at reducing our manpower by 30 percent and so on," Aniruddha Joshi, a vice president at the company, said, adding that making redundancies was just one option.

"Options available would be firing people, allowing people to retire and reusing them in other operations."

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