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Kompania Plans to Sustain Output With 20,000 Fewer Jobs

Kompania Weglowa SA, the European Union’s biggest coal producer, needs to cut its workforce by more than a third while maintaining output to avoid bankruptcy, Chief Executive Officer Miroslaw Taras said.

State-owned Kompania, Poland’s third-biggest employer, plans to continue producing about 30 million metric tons of coal annually as its workforce will fall by 20,000 from 55,000 through retirements, voluntary departures and sales of mines, Taras said in a phone interview on Aug. 28.