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.”
- Practices: Corporate Transactions & Business
- 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
Crypto Investor Protection: SEC and CFTC Enforcement Trends
Crypto investor protection continues to evolve, with the SEC and CFTC investing resources and coordinating more closely to uphold regulatory standards. Whether you’re a retail investor, an institutional trader, or part of a crypto startup, understanding enforcement trends is essential for navigating this dynamic and high-stakes regulatory environment. Crypto Is No Longer the Wild West […]
Author: Dan Brecher
New Jersey’s Next Manufacturing Tax Credit: Stability Secured, Timing Matters
A Settled Regulatory Environment Enables Confident Capital Planning New Jersey’s new manufacturing incentive program, Next New Jersey Manufacturing Program, enters 2026 with something uncommon in economic development these days: policy stability. The statute is enacted, New Jersey Economic Development Authority’s (“NJEDA”) rules are adopted, and the application portal is open. With the election outcome settled, […]
Author: Michael J. Sheppeard
A Simple Guide to Industry Roll-Up Acquisitions
When done successfully, industry roll-up acquisitions can dramatically grow and strengthen your business. In this post, we break down what an industry roll-up is, why companies pursue it, and what makes it an effective (and sometimes risky) business strategy. What Is an Industry Roll-Up Acquisition? In an industry roll-up acquisition of companies, a buyer acquires multiple companies […]
Author: Dan Brecher
Genesis Mission: How the U.S. Government’s New AI Platform Will Reshape Corporate Innovation, Risk, and Competition
The federal government has launched one of the most ambitious scientific initiatives in decades, and it will redefine how companies develop technology, manage risk, and compete. The Genesis Mission, created by Executive Order and driven by the Department of Energy (“DOE”), is intended to accelerate scientific discovery through a national AI platform that links supercomputers, […]
Author: Michael J. Sheppeard
Stablecoins and the GENIUS Act: How New Global Rules Are Reshaping Compliance
Stablecoins Leave the Grey Zone Stablecoins were supposed to be the “boring” part of crypto: digital dollars that just work. Yet for years they have lived in a regulatory no-man’s-land, classified one day as securities, the next as commodities, and sometimes as something regulators had not even named yet. That uncertainty is finally starting to […]
Author: Bryce S. Robins
Don’t Overlook the Importance of Business License Management
If you operate a business without the proper license, you risk fines, insurance issues, reputational harm, and even business closure. Even innocent mistakes, like forgetting to renew a license, can have significant consequences, such as losing your lawsuit for payment of services that are unlicensed, which makes it imperative to have business license management procedures […]
Author: Dan Brecher
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.