US coal giant slashes staff in NSW, Qld
Peabody has blamed short-term global economic challenges for the cost-saving measures that come just weeks after cutting 450 contracting jobs in June.
"The reduction has been made to align the company's workforce size with other cost reduction activities, as part of a comprehensive cost management review to secure the long-term competitiveness of our operations," the company said in a statement.
"We understand this decision affects our employees, families and their local communities, and we are supporting impacted employees and our workforce through this change."
Peabody operates eight mines in Queensland - seven in the Bowen Basin and one in the state's south-west. It also has three mines in NSW - in the Hunter Valley, in the state's central north and near Wollongong.
Many coalminers in Australia have been cutting jobs as they look to reduce costs in response to falling coal prices and the recent strength of the dollar.
Frequently Asked Questions about this Article…
Peabody Energy said it is cutting 170 staff at its Queensland and New South Wales mines and has scrapped plans to fill another 230 positions. The announcement follows an earlier round in June when the company cut 450 contracting jobs.
Peabody blamed short‑term global economic challenges and said the reductions align its workforce with other cost‑reduction activities as part of a comprehensive cost management review aimed at securing the long‑term competitiveness of its operations. The move also comes amid wider pressure from falling coal prices and a stronger Australian dollar.
Peabody operates eight mines in Queensland — seven in the Bowen Basin and one in the state’s south‑west — and three mines in New South Wales located in the Hunter Valley, the state’s central north, and near Wollongong. The company’s staff cuts relate to its Queensland and NSW operations.
Yes. In addition to cutting 170 staff, Peabody has scrapped plans to fill 230 positions, effectively pausing planned hiring as part of its cost management actions.
The recent announcement refers to cutting 170 staff and cancelling 230 planned hires. The company had earlier cut 450 contracting jobs in June, so the company’s cost‑cutting program has affected both contracting roles and staff positions.
Peabody said it understands the decision affects employees, families and local communities and that it is supporting impacted employees and its workforce through the change, although the company did not provide detailed support measures in the announcement.
For everyday investors, Peabody’s job cuts signal that the company is actively cutting costs in response to market pressures. The moves reflect broader industry challenges — such as falling coal prices and currency strength — which can affect revenues and margins. Investors may want to monitor company statements and sector trends for further developments.
Yes. The article notes many coalminers in Australia have been cutting jobs as they reduce costs in response to falling coal prices and the recent strength of the Australian dollar, making Peabody’s actions part of a wider industry trend.
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