Elk Valley Resources, owned by Glencore, announced the layoff of 140 staff members, attributing the decision to challenging market conditions influenced by global economic uncertainty and rising tariffs. These layoffs come in light of recent increases in U.S. tariffs on steel imports, which further complicate the operational landscape for coal mining. The company is attempting to enhance efficiency and reduce costs while supporting affected workers. Many employees affected will be reallocated to vacant roles, but those not placed are being given assistance. The layoffs carry significant implications for local communities near the mines.
"EVR is working to improve efficiency and reduce costs across our business to ensure our company is globally competitive," Stannell said.
"Certainly is unfortunate that it's challenging times for the coal industry area right now," he told CBC's Radio West host Sarah Penton.
Elk Valley blamed 'challenging market conditions' for the job cuts related to global economic uncertainty and increased tariffs.
Earlier this month, U.S. President Donald Trump doubled tariffs on steel imports to the U.S. to 50 percent, impacting market dynamics.
Collection
[
|
...
]