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The company is also undertaking a review of shifts, scheduling and mine planning at its Australian operations to determine optimal production levels.
The cuts represent a downsizing of about 25% of corporate and regional support positions. Most of the reductions are expected to occur in the second quarter.
Actions also include “delayering” of the organisation and the closure of offices in Evansville, Indiana, and Gillette, Wyoming.
Any charges associated with this downsizing are not included in the company’s previously announced financial targets. They will be reviewed in Peabody’s second quarter earnings release.
