St. Louis-based Peabody Energy (NYSE: BTU) said it will eliminate a health care benefit program for retired miners in order to save money, as the coal producer has reported big losses.
Peabody announced plans to discontinue coverage of medical expenses for workers enrolled in Medicare and stop providing life insurance to retirees, the Associated Press reported, adding that the move is expected to save the company $174.5 million.
The company didn’t tell the AP how many workers would be affected.
“We…
