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Wednesday, April 30, 2014

Murray Energy cuts 1,200 Consol retirees' benefits

Placing blame on the Obama administration for destroying the coal industry, Murray Energy, one of the largest coal employers, announced Tuesday that it will terminate health benefits for 1,200 non-union retirees "who worked in mines Murray purchased one year ago" from Consol Energy, reports WTRF in Wheeling, W. Va. Benefits for salaried retirees, including medical, prescription drug and life insurance will end on Dec. 31.

"Murray Energy’s inability to provide these benefits is, in part, due to the destruction of the coal industry, including our markets, by the Obama administration and its appointees and supporters, who have eliminated the livelihoods of thousands of coal miners, and their families, by the forced closing of 392 coal-fired electric power plants in America, now and in the immediate future," the company said in a statement. "Due to these action and devastated coal markets, Murray Energy is unable to support these benefits."

"Murray Energy is making this announcement at this time to allow affected salaried retirees of Consolidation Coal [Consol's former name] the opportunity to make other arrangements," the statement reads. "Over 80 percent of the lost benefits can be made up with Medicare. Also, these former Consolidation Coal retirees have good pension benefits. The company has provided these salaried retirees with information on and access to alternate coverage." (Read more)

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