The Conversation (0)
The Wall Street Journal reported that Alliance Resource Partners (NASDAQ:ARLP) is reducing its production and cutting jobs in response to poor coal prices.
The Wall Street Journal reported that Alliance Resource Partners (NASDAQ:ARLP) is reducing its production and cutting jobs in response to poor coal prices.
As quoted in the publication:
The coal producer has reduced output at its Elk Creek mine in Kentucky and its Gibson North and South mines in Indiana, while the Onton mine in Kentucky has stopped production.
Alliance issued notices under the Worker Adjustment and Retraining Notification Act to about 260 employees. The WARN Act requires companies of a certain size to give advance notice of mass layoffs.
The company said the moves were consistent with its projected production and sales volumes for 2015 and beyond.