Petrochemical company Jilin Petrochemical Company to cut 10,000 jobs
Petrochemical firm Jilang Petrochemics has announced plans to cut up to 10,800 jobs.
Jilinepetro is a major exporter of the chemical product in the Middle East and China.
JL Petro, the company’s parent company, says it has received approval from the Chinese government to slash its workforce by 5,000 workers by the end of the year.
“In the past, we’ve also faced difficulties in the Chinese market, as they had restrictions on the production and sale of chemicals,” JL CEO Huang Huai said in a statement.
Jilinep’s announcement comes a week after it announced a 15 per cent pay cut for its Chinese employees, and a 1 per cent reduction in its workforce in the United States.
JLI is the largest exporter and manufacturer of chemicals in China, with an annual turnover of $US40 billion.
Earlier this year, JLI said it would cut another 5,800 workers.