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Coal Crisis Threatens to Consume Murray Energy

Coal Crisis Threatens to Consume Murray Energy

SUGAR LAND--August 12, 2016--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Workers at Murray Energy Corporation (St. Clairsville, Ohio) have been WARNed. On June 29 the nation's largest private coal mining firm told about 4,400 employees in six states--about 80% of the company's workforce--that they could be subject to layoffs. A federal law, the Worker Adjustment and Retraining Notification (WARN) Act, requires workers and state and local governments to be notified 60 days before potentially widespread layoffs. The company's WARN notice to employees said it anticipated "mass workforce reductions in September, 2016." Subsequently, company spokesman Gary Broadbent told Industrial Info Resources the June 29 notice was "a precautionary measure to comply with this (WARN) legal requirement. But, no layoffs are contemplated or expected at this time."

Within this article: Details on what's causing pain in the coal industry. Other companies featured: Peabody Energy Corporation (Pink Sheets:BTUUQ), Arch Coal Incorporated (Pink Sheets:ACIIQ), Alpha Natural Resources Incorporated (Pink Sheets:ANRZQ)