Solid Energy cuts a quarter of workforce as Spring Creek put in stasis, trims Huntly East workers

Mon, 24 Sep 2012

Sept. 24 (BusinessDesk) - Solid Energy, the state-owned coal miner forced to write down investments in renewable energy projects, will slash 25 percent of its workforce because of a slump in the price of coal. Total jobs will reduce to 1,360 from 1,800 as Spring Creek Mine is put on care and maintenance, output is reduced at Huntly East Mine and the company cuts head office and support jobs. The jobs cuts come after Solid Energy warned in June that it faced a $200 million revenue shortfall this financial year. “The price for Spring Creek’s...

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