Murray Energy to lay off more than 150 employees

Murray Energy to lay off more than 150 employeesAccording to several reports, Murray Energy Corporation and some of its units might be planning to layoff more than 150 employees.

Robert Murray, CEO of Murray Energy Corporation in Ohio said that 54 employees of The American Coal Company mine in Galatia were being laid off. Other layoffs include 102 people at Murray's Utah Energy Incorporated in Utah and 7 in the Kanawha Transportation Center in Wheeling. There were other smaller reductions in company subsidiaries.

Bob Murray, company president, said that there are several reasons for the layoff of employees are various units. Some of the reasons include lower level of economic activity in the American economy, reduced electric power consumption and the closure of the coal industry by as early as 2030. He also said that the implementation of twelve regulations pending from the Obama administration is also a reason for the layoffs of the people.

Murray said that the Obama administration's unfavorable policies toward the coal industry are forcing the company to layoff people. The layoff announcement was made a day after Obama was reelected and warned that more layoffs are to come soon.