Thursday, July 29, 2021  | 18 Zilhaj, 1442
Samaa TV
Facebook Twitter Youtube
HOME > News

Pakistan Steel Mills fires another 500 employees

The number of sacked employees reaches 5,000

SAMAA | - Posted: Mar 22, 2021 | Last Updated: 4 months ago
Posted: Mar 22, 2021 | Last Updated: 4 months ago


The Pakistan Steel Mills has dismissed another 500 of its employees, according to a PSM letter seen by SAMAA TV.

These sacked staffers included all 155 employees of the PSM medical department.

In November 2020, the PSM laid off over 4,500 employees as part of a cost reduction exercise.

The foundry has been closed since 2015. It has been incurring losses worth Rs100 million a day. Its deficit had reached Rs212 billion by June 30, 2020.

In its response, the PSM Stakeholders’ Group said the recent dismissals were a violation of court orders.

The PSM had 16,700 employees in 2015. Of them, nearly 7,000 have retired.

It has so far sacked 5,000 employees.

FaceBook WhatsApp

Tell us what you think:

Your email address will not be published.

FaceBook WhatsApp


Rain expected in Karachi on July 25: Met dept
CCTV show Noor jumped off terrace to protect herself: lawyer
Karachi weather: No rain expected in coming days
Noor Mukadam murder suspect was ‘in his senses’ during arrest
AJK Elections 2021: PTI wins 25 seats, PPP nine
Noor Mukadam’s murderer is not mentally ill: father
About Us   |   Anchor Profiles   |   Online Advertising   |   Contact Us   |   Feedback   |   Apps   |   FAQs   |   Authors   |   Comment Policy
Facebook   |   Twitter   |   Instagram   |   YouTube   |   WhatsApp