Instant Alert: REPORT: China wants to lay off up to 6 million workers from 'zombie enterprises'

MANAGE SUBSCRIPTIONS   |   UNSUBSCRIBE   |   VIEW ONLINE   REPORT: China wants to lay off up to 6 million workers from 'zombie enterprises' by Greg McKenna on Mar 1, 2016, 3:53 AM Advertisement China is planning to overhaul its “zombie enterprises” by sacking 5-6 million workers over the next two to three years according to a Reuters report. Citing sources with “ties to the countries leadership” the report says the move is aimed at bolstering “efforts to curb industrial overcapacity and pollution”. Coming on the day official and private sector measures of manufacturing and services and purchasing manager intentions suggested China’s economic transition is in trouble this is clearly a sensitive topic. Reuters said “both sources requested anonymity because they were not authorized to speak to media about the politically sensitive subject for fear of sparking social unrest.” You can read more here:     Share the latest business news with your network: Email sent to:   |   Manage your email preferences   |   Unsubscribe Terms of Service   |   Privacy Policy Business Insider. 150 Fifth Avenue, New York, NY 10011