The downturn in coal and gas prices was blamed.
“The company will fire 290 workers in its gas and corporate divisions and another 180 workers from its coal operations, company spokesman Brian Aiello said in an e-mail,”Bloomberg. reported
“These are very difficult but prudent decisions, given the depressed nature of commodity prices,” he said.
The spokesman confirmed that no coal mines were being idled – indicating that the job losses might come from production cuts.
In late June Consol floated a spinoff company, CNX Coal Resources, on to the New York stock exchange. CNX operates a mining complex in Pennsylvania that houses three underground thermal coal operations.
Consol’s remaining operational coal assets include the West Virginia based Miller Creek complex and the Southern Virginia-based Buchanan longwall mine.
