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CECIL, Pa. (AP) -- Consol Energy Inc. is laying off nearly 500 workers from its natural gas and corporate divisions.
The Cecil, Pennsylvania-based company said Tuesday that it's cutting 290 jobs from its gas and corporate divisions and 180 workers in its Pennsylvania coal mines. That's roughly 10 percent of the company's workforce.
The move comes after the firm laid off about 165 employees from its gas and corporate departments. Consol also announced last month that it would end retiree benefits for about 4,400 former employees by the end of the year.
Spokesman Brian Aiello says the latest round of job cuts is "difficult but prudent," given the "depressed nature of the commodity prices."
About a dozen other natural gas and coal companies have announced layoffs in the past year, citing low fuel prices.
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VanEck Vectors Global Alternative Energy ETF
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PRODUCER |
CODE : CNX |
ISIN : US20854P1093 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Consol Energy is a producing company based in United states of america. Consol Energy produces coal in USA, and holds various exploration projects in USA. Its main asset in production is BUCHANAN in USA. Consol Energy is listed in Germany and in United States of America. Its market capitalisation is 1.4 billions as of today (€ 1.3 billions). Its stock quote reached its highest recent level on June 06, 2008 at 99.79, and its lowest recent point on April 26, 2019 at 10.00. Consol Energy has 47 442 200 shares outstanding. |