Peabody Energy Announces Layoffs

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The world’s largest private-sector coal company will reduce hundreds of salaried positions in the coming months. In a statement released by Peabody Energy, President and Chief Executive Officer Glenn Kellow announced plans to reduce approximately 250 corporate and regional positions in the next few months to create a leaner organization and lower costs. Kellow said that when fully implemented later this year, the reductions are expected to save the company $40 to $45 million per year.

The reductions represent nearly 25 percent of corporate and regional support positions, and the majority of reductions are expected to occur in the second quarter. The statement from Peabody indicates that they will close two of their offices, one in Gillette, and the other in Evansville, Indiana.

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