According to the ABC, “BMA said the workforce reduction was required to remain viable for the long term but would allow the company to operate safely. ”
The cut represents about seven per cent of its workforce.
BMA Asset president Lucas Dow said the coal industry continued to face challenging market conditions and had to act to ensure the long-term viability of the business.
Mr Dow said the industry was undergoing a difficult transition and to be globally competitive the cost base of operations had to be reset.
He acknowledged that the cut would cause uncertainty for employees, their families and the local communities and said the decision was not taken lightly.
“We want to ensure that BMA continues to operate viably, providing ongoing employment in the local region,” he said.
“BMA will continue to work with employees and contractors throughout the process and ensure everyone is treated fairly and with respect.”
More to come…
Source: ABC Online