Cutbacks at Consol Energy
Published by Harleigh Hobbs,
Editor
World Coal,
Consol Energy will eliminate approximately 470 positions throughout the company. It has confirmed that 290 positions will be removed in its natural gas and corporate divisions and 180 from its coal division.
“These are very difficult but prudent decisions given the depressed nature of the commodity prices,” Consol spokesman, Brian Aiello, commented. “We are taking aggressive action so that Consol can continue to operate from a position of strength through the downturn and quickly capitalise on the up-cycle when it occurs.”
Consol’s stock price has decreased by nearly 40% in the last two months. The most recent stock closed at US$20.03, which is up 11 cents following the news of the layoffs.
The company plans to release its 2Q15 results on July 28.
Edited from Source: Power Source by Harleigh Hobbs
Read the article online at: https://www.worldcoal.com/coal/15072015/cutbacks-at-consol-energy-2560/
You might also like
FutureCoal and ASEAN Centre for Energy renew MoU to advance coal’s transformation
FutureCoal, the Global Alliance for Sustainable Coal, and the ASEAN Centre for Energy (ACE) have renewed their Memorandum of Understanding (MoU), strengthening their joint commitment to support sustainable coal development across the ASEAN region.
