Peabody Energy Announces Layoffs At Caballo And Rawhide Mines
Coal giant Peabody Energy announced plans to cut jobs at its Caballo and Rawhide mines near Gillette Thursday.
The company won't say how many people will lose their jobs. It released this statement: “In response to market conditions and customer needs, Peabody has implemented a small number of job reductions at its Caballo and Rawhide Mines. We regret the effect of these actions on employees and their families, and the company is taking steps to ease the transition through severance and outplacement support for those impacted.”
The coal industry has struggled in recent years. But Wyoming mines have lost fewer jobs compared to operations in Appalachia, according to S & P Global Market Intelligence coal reporter Taylor Kuykendall. Kuykendall says, from 2011-2015, Wyoming lost about nine percent of its coal jobs: “West Virginia lost 41 percent of its coal jobs [in that time]. Kentucky lost a little over half of its coal jobs.”
Kuykendall said a big reason for that is Wyoming mines are more productive than those in other parts of the country. But he pointed out that demand for coal is likely to remain weak in the near future.