Company ensures workers are smoothly transferred

In the process of eliminating overcapacity, China Baowu Steel Group has taken steps to ensure surplus employees can smoothly exit the company either to new jobs or early retirement.

"We have set up a job transfer and employment platform for these personnel, providing several kinds of exit channels, including internal transfer, training, self-employment and retirement," said Chen Derong, general manger of China's largest steel-maker.

Most employees of the group's new subsidiaries, like material factories and Ouyeel, a business-to-business platform, are from internal recruitment.