HAZARD, Ky (WYMT-TV ) -- A local coal company in the mountains is laying off today.
Perry County Coal Corporation, owned by TECO Coal, laid off more than 150 workers today and released a statement attributing the layoffs to a weakening coal market. Below is the statement released by the company.
“Due to depressed market conditions, Perry County Coal Corporation is reducing staff levels at its operations in Hazard, Kentucky to match expected sales for the coming year.
On Friday, December 7, 2012, the company reduced its workforce by 156 positions, or 29 percent of the workforce at that location.
These reductions were due to the weakening in the coal market, caused by low natural gas prices and the poor economy.
This was a difficult decision, and we hope these reductions are temporary. If the market recovers, we hope to reinstate these employees in the future. Perry County Coal's three underground mines will continue to operate with reduced staffing.”