OBAMAnomics: Another blow to the Coal Mining Industry in Appalachia

Murray Energy to Lay Off Around 1,800 Workers:

Coal miner Murray Energy Corp. is set to announce layoffs of around 1,800 workers at nine locations on Friday, according to a person familiar with the matter, dealing another blow to the coal-mining industry in Appalachia.

The planned layoffs, which represent about 21% of Murray’s workforce, will come largely at mines in West Virginia and Ohio, a region already reeling from the impact of abundant natural gas and a global coal glut.

The planned layoffs at Murray Energy will come mostly 
from its mines in West Virginia and Ohio. 
Photo: Jeff Swensen for WSJ

Robert Murray, the 75-year-old founder and chief executive of the company, made the decision Wednesday after a 12-hour meeting with operations managers, according to the person familiar with the matter.

The company decided to make much bigger cuts than it had previously been considering because of growing concerns about the slumping market for thermal coal, the person said.

Robert Murray, CEO of Murray Energy, inside his 
Century Mine operation in Ohio last October. 
Photo: Jeff Swensen for WSJ

The company plans to send formal notice on Friday to workers at the Monongalia County Coal Co. in West Virginia, the mine that will see the largest layoffs. The mine had been idled earlier this spring, putting several hundred miners out of work.

Read the rest of the story HERE.

Alpha Natural to Lay Off 439 at West Virginia Coal Mine:

Coal miner Alpha Natural Resources Inc. on Friday said it plans to lay off 439 miners at a mine in south-central West Virginia.

Murray Energy Corp., another big Appalachian miner, is planning to lay off around 1,800 workers, mostly in Ohio and West Virginia, The Wall Street Journal reported Thursday.

Like Murray, Bristol, Va.-based Alpha is reeling from competition from the natural gas industry and its less expensive energy for power plants, and from a global coal glut and tougher environmental regulations in the U.S. (emphasis mine)

Read the rest of the story HERE.

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