China aims to lay off 5-6 million workers from “zombie enterprises” over the next two to three years as part of efforts to curb industrial overcapacity and pollution, two sources with ties to the country’s leadership said. Beijing is trying to rejuvenate its flagging economy by streamlining bloated industrial sectors, starting with coal and steel, but layoffs have emerged as one of the biggest concerns for cash-strapped regions ahead of next week’s annual session of parliament. The government’s plans to lay off five million workers in industries suffering from a supply glut would be the country’s boldest retrenchment program in almost two decades, one source said. The restructuring of state-owned enterprises from 1998 to 2003 led to around 28 million […]