Joel R. Glucksman
Partner
201-896-7095 jglucksman@sh-law.comFirm Insights
Patriot Coal To Impose Less Severe Cuts Than It Could Have
Author: Joel R. Glucksman
Date: July 26, 2013
Key Contacts
Back
Bankrupt company Patriot Coal Corporation recently obtained court permission to eliminate its collective-bargaining agreements with unionized miners. However, the company said it plans to impose less severe cuts than it could under the court’s ruling in order to protect and maintain relationships with its workers.
In a statement, the company announced that it has made cuts to employee wages and benefits, but that the cuts were less than they could have been under the court’s recent ruling. In May, U.S. Bankruptcy Judge Kathy A. Surratt-States ruled that in addition to tossing out union contracts, the company could also slash health benefits for workers and retirees. However, Patriot said it will maintain retired workers’ health plans for the next two months while it continues negotiating with the union. Although talks with union representatives have been tense since the company filed for bankruptcy law protection, Patriot assured that recent discussions have already “resulted in substantial progress toward a consensual resolution.”
While the coal company and the United Mine Workers of America chose not to disclose the specifics of their talks, the groups said they hope to reach a resolution by the end of July.
“Patriot and the UMWA are continuing to meet in a diligent effort to resolve the outstanding differences and reach a consensual agreement,” the groups stated.
Although the coal company is attempting to assuage workers by making as few cuts as possible, many longtime workers and retirees continue to launch protests against it, which has led to many arrests in recent months.
UMWA President Cecil Roberts said he expects there will be significantly more protests until a resolution that takes miners and their families into account is reached.
“This is kind of like the struggle of the civil rights movement,” said Roberts, according to The Associated Press. “It didn’t end in a week or a month or a year or two. It was a long process. This is about justice and fairness, and anytime you’re fighting for justice and fairness, that fight might take a while. But we’re never going to stop.”
- Locations: Red Bank, NJ, New York City, Little Falls, NJ
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Related Posts
See all
Breach of Contract Explained: Types and Consequences
Breach of contract disputes are the most common type of business litigation. Therefore, nearly all New York and New Jersey businesses will likely have to deal with a contract dispute at least once. Understanding when to file a breach of contract lawsuit and how long you have to sue for breach of contract is essential […]
Author: Brittany P. Tarabour
How to Dissolve a Corporation in New Jersey: A Step-by-Step Guide
Closing your business can be a difficult and challenging task. For corporations, the process includes formal approval of the dissolution, winding up operations, resolving tax liabilities, and filing all required paperwork. Whether you need to understand how to dissolve a corporation in New York or New Jersey, it’s imperative to take all of the proper […]
Author: Christopher D. Warren
Gross Lease vs. Net Lease: Understanding the Key Differences
Commercial leases can take a variety of forms, which is often confusing for both landlords and tenants. Understanding the different types, especially the gross lease structure, is important when selecting the lease that best suits your needs. One key distinction between lease types is how rent is calculated and paid. This article addresses the two […]
Author: Robert L. Baker, Jr.
What to Do If You Are Impacted by a Retailer Bankruptcy Part 2
Over the past year, brick-and-mortar stores have closed their doors at a record pace. Fluctuating consumer preferences, the rise of online shopping platforms, and ongoing economic uncertainty continue to put pressure on the retail industry. When a retailer seeks bankruptcy protection, a myriad of other businesses are often impacted. Whether you are a supplier, customer, […]
Author: Brian D. Spector
The Current Administration's Proposals for the Financial Services and Banking Industries Will Affect Your Business
Since his inauguration two months ago, Donald Trump’s administration and the Congress it controls have indicated important upcoming policy changes. These changes will impact financial services policies and priorities. The changes will particularly affect cryptocurrency, as well as banking rules and regulations. Key Regulatory Changes in Cryptocurrency For example, in the burgeoning cryptocurrency business environment, […]
Author: Dan Brecher
Tips for Commercial Landlords Impacted by Wave of Retailer Bankruptcies Part 1
The retail sector has experienced a wave of bankruptcy filings over the last year. Brick-and-mortar businesses in financial distress include big-name brands like Big Lots, Party City, The Container Store, and Vitamin Shoppe. When large retailers seek bankruptcy protection, they are not the only businesses impacted. Landlords can be particularly hard hit. While commercial landlords […]
Author: Brian D. Spector
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.