The "Hard-Landing" Has Arrived: Chinese Coal Company Fires 100,000

From Zero Hedge:

In a move that would make even Hewlett-Packard's Meg Whitman blush, Harbin-based Heilongjiang Longmay Mining Holding Group, or Longmay Group, the biggest met coal miner in northeast China which has been struggling to reduce massive losses in recent months as a result of the commodity collapse, just confirmed China's "hard-landing" has arrived when it announced on its website it would cut 100,000 jobs or 40% of its entire 240,000-strong labor force.

http://www.zerohedge.com/news/2015-09-27/chinas-hard-landing-has-arrived-chinese-coal-company-fires-100000