Peabody Energy Corporation (BTU)

[LouisDesyjr]

Possible layoffs this week at WY mine

There was a story initially released late yesterday and updated about 4pm EDT today.

North Antelope Rochelle on edge, as Peabody Energy informs some not to report to work:
http://trib.com/business/energy/north-antelope-rochelle-on-edge-as-peabody-energy-informs-some/article_5feaf853-e95c-5981-a52c-9042fdb21cca.html

From the story:

Some employees at Peabody Energy’s North Antelope Rochelle Mine were told Tuesday not to report to work later this week, raising the possibility of layoffs at the nation’s largest coal mine.

The two-sentence letters, hand-delivered to an unknown number of miners as they left work and obtained by the Star-Tribune, did not amount to a layoff notice. Instead, they instructed the recipients to attend a meeting in Douglas on Friday. The meeting’s purpose was not given.

There are three ways to read this:

1: The people that got the notice are being laid off and it is only effecting this mine. (I think this is most likely)

2: The mine is being sold and this is how the company is informing workers of the new owner.

3: If there are notices at other mines, it is possible that a BK filing is being done on or before Friday and the workers are going to be told how they are effected.


Louis J. Desy Jr.