Peabody cut 70 jobs from Wilkie Creek coal mine

Peabody have cut 70 jobs from Wilkie Creek coal mine as the company continues to dramatically trim its workforce.

Earlier this year the company announced plans to cut to cut 400 positions across its operations in Australia, resulting in 170 job losses, blaming challenging market conditions for the move.

However a spokeswoman for Peabody told Australian Mining the most recent cuts were “on top of” the 400 already announced.

“These actions have been taken to ensure we keep pace with current market conditions and meet sales commitments for the rest of 2013,” the company said.
“Peabody will provide support to affected employees and their immediate family members to work though this challenging period.”

In June the miner announced plans to slash more than 400 contractor positions across its coal mines.

The company recently cut 42 jobs from Helensburgh’s Metropolitan coal mine.

Peabody announced its Australian June quarter earning of $US112.5 million, compared with $US240.4 million in the same quarter last year.

Early this year the company reported US$1 billion in losses for the 4Q12 and a full-year 2012 loss of US$575.1 million.

Peabody operates three coal mines in New South Wales and eight in Queensland.

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.