Coal producer Massey plans average 6 pct pay cuts amid weak coal prices

CHARLESTON, W.Va. — Massey Energy Co. shares soared nearly 24 percent Wednesday after the coal producer announced plans to slash wages and benefits for all of its employees by about 6 percent on average to lower costs amid weak coal demand.

Coal producer Massey plans 6 pct average pay cut amid slumping coal prices

CHARLESTON, W.Va. — Coal producer Massey Energy’s shares are up more than 24 percent after it announced plans to slash wages and benefits for all employees about 6 percent in the face of declining demand and prices.

Coal producer Massey plans 6% average pay cut

CHARLESTON, W.Va. — Coal producer Massey Energy’s shares are up more than 22 percent after it announced plans to slash wages and benefits for all employees about 6 percent in the face of declining demand and prices.