walter energy inc (WLT) Key Developments
Walter Energy Plans to Cut Around 400 Jobs
May 19 15
Walter Energy is planning to cut around 400 jobs from its Brookwood coal mines in the US, due to fall in coal prices. Poor market conditions within the steel industry have prompted the company's decision to go ahead with the job cuts. The company has issued notices to 370 union and salaried employees, which includes notices to eliminate management positions. The jobs planned to be eliminated at the facilities within the next two months. With the job cuts, expected to begin this July, the company will cut 20% of its 1,700 employees.
Walter Energy, Inc. Announces Executive Changes
May 13 15
On May 7, 2015, Brian M. Chopin, Assistant Corporate Controller of Walter Energy, Inc. was appointed Acting Corporate Controller and Chief Accounting Officer, effective May 20, 2015, and will serve as the successor to Kevin M. Harrigan. Mr. Chopin, age 32, joined the Company in June 2012, first serving as the Manager of SEC Reporting and, from January 2014 to May 2015, serving as Assistant Corporate Controller.
Kevin M. Harrigan to Resign as Vice President, Chief Accounting Officer and Corporate Controller of Walter Energy, Inc., Effective May 20, 2015
May 4 15
On April 29, 2015, Mr. Kevin M. Harrigan notified Walter Energy, Inc. that he will resign as the company's Vice President, Chief Accounting Officer and Corporate Controller, effective May 20, 2015, in order to accept a senior executive position at another company.
Walter Energy to Cut 46 Mining Jobs in Brookwood
Mar 16 15
Walter Energy Inc. has been feeling the financial pinch following a year marred with losses, and the downward trend continues after an announcement from the company that it will lay off 46 coal miners at its Brookwood location. This will leave the total number of employees at 1,016. The employees laid off will be eligible to reapply for the positions when they come open again.
Walter Energy, Inc., Annual General Meeting, Apr 23, 2015
Mar 9 15
Walter Energy, Inc., Annual General Meeting, Apr 23, 2015., at 10:00 Central Standard Time. Location: Hyatt Regency Birmingham - The Wynfrey Hotel. Agenda: To consider the retirement of Graham Mascall as member of its board of directors; to elect eight director nominees to the board of directors; to approve the compensation of the company's executive officers; to ratify the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for 2015; and to transact such other business as may property come before the annual meeting and any adjournment or postponement thereof.