Bankrupt Coal Company Imposes Wage and Benefit Cuts

3 years 3 weeks 5 days ago July 02, 2013 Jul 2, 2013 Tuesday, July 02 2013 Tuesday, July 02, 2013 11:23:39 AM CDT in News
By: Associated Press

ST. LOUIS (AP) - A bankrupt coal producer says it has imposed wage and benefit cuts affecting thousands of its workers, but that the pullbacks are less severe than those authorized by a judge.

But St. Louis-based Patriot Coal Corp. added Tuesday that it will keep retiree health care benefits unchanged for the next two months.

Patriot didn't detail the cuts it has adopted, more than a month after a bankruptcy judge empowered Patriot to abandon its collective-bargaining agreements.

Patriot says its continued bargaining with the United Mine Workers of America union has produced "substantial progress."

A spokesman for the union isn't talking publicly about Patriot's cuts imposed Monday, saying only that the union is still meeting with the company to make further improvements over the bankruptcy court's order.

 

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