Patriot Coal cuts jobs, output as losses mount
May 08, 2012 | 01:54 PM
| Lisa Gordon
Tags
Patriot Coal,
Mark Schroeder,
Richard Whiting,
thermal coal,
metallurgical coal,
Kanawha Eagle,
Met Build-Out,
Lisa Gordon
PITTSBURGH — Patriot Coal Corp. has curtailed jobs and its production schedule in an effort to mitigate its recent string of losses.
The St. Louis-based miner posted a net loss of $75.3 million for the first quarter ended March 31, widening from a $15.9 million net loss in the same period a year earlier, on revenue that fell 12.9 percent to $502.6 million from $577 million. ....
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