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Home/Banking News/A Mine Is Now Closing in Kentucky Causing Massive Layoffs
Market News Today - A Mine Is Now Closing in Kentucky Causing Massive Layoffs

A Mine Is Now Closing in Kentucky Causing Massive Layoffs

By Frank Nez
March 12, 2024
2

A mine is now closing in Kentucky, causing massive layoffs in Muhlenberg County, officials with the Economic Growth Alliance report.

A Worker Adjustment and Retraining Notification (WARN) Notice shows that a whopping 200 employees will be let go from Pride Mine, formerly known as Survant Mine.

The official layoffs are happening on April 29.

At one point, Muhlenberg County was made up of coal mines and coal miners.

Back in 2006, eight mines were in operation, producing 4.2 million tons of coal that year.

Now, the final mine will be shutting down.

MEGA Executive Director Ray Hagerman says as mines have closed, the county has focused on bringing in manufacturing jobs to replace coal mining jobs lost.

Still, it’s never easy to have this many people learning they’ll be out of a job this spring, reports 14 News.

“We’re actually negotiating a potential deal right now to come close to replacing that number of jobs, but you never really can replace those jobs, especially if you’re one of those people effected, so our hearts go out to them certainly for that,” said Hagerman.

Hagerman says some employees will likely stay on after May 1 to help close, but he hasn’t seen anything in writing yet.

“We still don’t know exactly why the mine is closing.”

American Consolidated Natural Resources Inc. owns Pride Mine.

The outlet reports that they have ignored multiple attempts to get ahold of them to find out why they decided to close the mine down.

Other businesses laying off in Kentucky include:

  • Guess? Inc. 200 job cuts by 5/6.
  • Wolverine Worldwide 502. 150 job cuts by 5/3.
  • Computer World Services, Corp (CWS). 63 job cuts by 3/29.
  • TF-Metal USA, LLC. 49 job cuts by 3/14.
  • Piston Automotive. 52 job cuts by 4/19.

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Also Read: A Massive Cosmetics Company Now Closes in New York

Other Economy News Today

Market News Today - A Mine Is Now Closing in Kentucky Causing Massive Layoffs.
Market News Today – A Mine Is Now Closing in Kentucky Causing Massive Layoffs.

A US plant now makes an unexpected closure affecting thousands of employees by this upcoming June, sources confirm.

Tyson Foods has decided to shut the doors of its Perry, Iowa pork plant at the end of June after closing just six plants last year.

“After careful consideration, we have made the difficult decision to permanently close our Perry, Iowa pork facility.

We understand the impact of this decision on our team members and the local community,” a Tyson Foods spokesperson said in a statement to local CBS affiliate KCCI.

“Taking care of our team members is our top priority and we encourage them to apply for other open roles within the company.

We are also working closely with state and local officials to provide additional resources to those who are impacted.

“While this decision was not easy, it emphasizes our focus to optimize the efficiency of our operations to best serve our customers.

Iowa remains a key state for Tyson Foods, with employment of more than 9,000 team members across our other Iowa facilities.”

The Iowa location is the ninth processing factory the company has decided to close since 2023 in an attempt to cut costs, reported The Wall Street Journal.

Over the past year, Tyson executives have said they could be closing more of their chicken, beef, and pork plants, according to the Journal.

Tyson is the largest meatpacker in the United States and one of the nation’s largest pork processors.

The Perry plant, which is smaller than other Tyson plants in the state, is estimated to have the capacity to slaughter about 8,000 pigs a day, roughly 2% of the US total, according to agricultural lender Rabobank.

“With the looming closure, 1,200 employees will be left jobless,” reports The-Sun.

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Also Read: A Massive Mall Retailer Is Now Closing in California

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Market News Today - A Mine Is Now Closing in Kentucky Causing Massive Layoffs.
Market News Today – A Mine Is Now Closing in Kentucky Causing Massive Layoffs.

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Frank Nez is an American entrepreneur, journalist, writer, and investor. Frank's work has been cited by SEC and Congressional reports. Franknez.com is a personal finance and market news publication, dedicated to publishing content on money, investing, entrepreneurship, and retail investor news.

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2 Comments
  1. Frank Nez says:
    March 12, 2024 at 6:34 pm

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  2. Frank Nez says:
    March 12, 2024 at 6:34 pm

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