FIRST AIRED: May 23, 2017

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00:00:00
fineness planned a layoff nearly two million workers may just be the tip of the iceberg sordid exclusively telling Reuters that optimistic million Chinese could lose their jobs in the next few years , the government is taking aim at so called zombie firms in state back industries like steel and coal they want to cut expenses and pollution but as Reuters David Stanway says that could lead Beijing with an even bigger problem at hand civil unrest the problem here is that a lot of the job cuts are going to be targeted in particular regions and these regions are struggling already herbaria is China region that suffers winners from zombie firms there are already hundreds of steel mills which are on the verge of closure hope they'll twist around Beijing are you if you have a hundred thousand laid off workers I'm in her day they could easily flocking to Beijing and because pressures on the %HESITATION authorities in the capital didn't first time gauging , and then times have changed during the recent financial crisis there was something like twenty five or thirty million layoffs over a period of about six years the difference here now is that the workers it's very difficult to retrain them and to bring people have been working in mines and factories for thirty years into the new economy into services into high tech is going to be a huge challenge for the government , China said pledging over fifteen billion dollars to retrain the million to plan a layoff but with the possibility of three hundred many workers losing their jobs there's no saying whether that will be nearly enough