Solid Energy lines up more job cuts after deciding against asset sales, liquidation

Thu, 07 May 2015

By Paul McBeth May 7 (BusinessDesk) - Solid Energy, the financially stricken state-owned coal miner, plans to cut its workforce again to keep a lid on costs after the board decided against selling assets or liquidating the company. The Christchurch-based company plans to lay off 113 staff at its Stockton mine in Buller from July, as it cuts production, and will cut six maintenance staff at its Spring Creek mine in the Grey District to cut annual costs by $36 million, it said in a statement. Solid Energy anticipates restructuring costs of...

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