Friday, 15 March 2013 15:57
Patriot Coal seeks to cut retiree's benefits
ST. LOUIS (AP) — Patriot Coal Corp. has asked the U.S. Bankruptcy Court to modify collective bargaining agreements with the United Mine Workers of America, allowing the coal company to cut health care coverage for retired miners.
St. Louis-based Patriot said in the filing on Thursday that the action is necessary to save more than 4,000 jobs. Patriot also seeks to change wages, benefits and work rules for existing workers in an effort to make the company more competitive.
Union leaders have been anticipating the move for some time, holding protests in St. Louis last month that drew more than 1,000 people. UMWA President Cecil Roberts says the loss of benefits would cause financial ruin and threaten the health for thousands of retirees.
Patriot filed for bankruptcy in July.
St. Louis-based Patriot said in the filing on Thursday that the action is necessary to save more than 4,000 jobs. Patriot also seeks to change wages, benefits and work rules for existing workers in an effort to make the company more competitive.
Union leaders have been anticipating the move for some time, holding protests in St. Louis last month that drew more than 1,000 people. UMWA President Cecil Roberts says the loss of benefits would cause financial ruin and threaten the health for thousands of retirees.
Patriot filed for bankruptcy in July.
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