Biggest private coal producer warns of cutting 80 percent of workforce, head blames Obama policies

blames Obama policies Published July 03, 2016 The Wall Street Journal Facebook0 Twitter0 livefyre4744 Email Print FILE 2014: Coal mining boots are shown above miners’ lockers before the start of an afternoon shift near Gilbert, West Virginia. FILE 2014: Coal mining boots are shown above miners’ lockers before the start of an afternoon shift near Gilbert, West Virginia. (Reuters) Murray Energy Corp., the largest privately held coal miner in the U.S., has warned that it may soon undertake one of the biggest layoffs in the sector during this time of low energy prices. In a notice sent to workers this week, Murray said it could lay off as many as 4,400 employees, or about 80% of its workforce, because of weak coal markets. The company said it anticipates “massive workforce reductions in September.” The law requires a 60-day waiting period before large layoffs occur. Robert Murray, the controlling owner of Murray, is a fierce opponent of President Obama and a supporter of Donald Trump. In a statement, the company said the potential layoffs were “due to the ongoing destruction of the United States coal industry by President Barack Obama, and his supporters, and the increased utilization of natural gas to generate electricity.”...more