US underground coal mining company Murray Energy has announced plans to lay-off around 1,800 workers at various mines in West Virginia and Ohio.

Representing 21% of the company’s workforce, the planned lay-offs are being done amid declining thermal coal prices, a source familiar with the matter told Wall Street Journal.

The latest decision follows various meetings held by the company’s chief executive officer Robert Murray with operations managers.

"Murray Energy did not reveal the exact locations of where the lay-offs would occur."

Most of the job cuts will be in Murray Energy’s Monongalia County Coal in West Virginia, which has been idled earlier this spring, leaving several mining workers jobless.

Murray Energy did not reveal the exact locations of where the lay-offs would occur.

According to Murray, the company had around 8,600 people, and the number has now reduced to 7,500.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Two months ago, Murray Energy acquired a controlling stake in the US-based mining company Foresight Energy in a deal worth $1.4bn.

With a capacity to control more than nine billion tonnes of coal reserves, the new company can generate nearly 90 million tonnes of coal production a year.

Murray Energy purchased five mines from US-based Consol Energy in 2013 for $3.25bn.