Bankrupt Patriot Wants $150M Cut From Union Contract

Law360, Wilmington (March 15, 2013, 3:21 PM EDT) -- Patriot Coal Corp. asked a Missouri bankruptcy judge on Thursday to force concessions from its union workforce, claiming it needs to slash $150 million in annual benefits and other labor costs to escape Chapter 11 and avoid a disastrous liquidation.

St. Louis-based Patriot — the 10th largest coal producer in the U.S. — said in a statement that its bid to modify collective bargaining agreements with the United Mineworkers of America is necessary to save 4,000 jobs and prevent health care benefits for 23,000 employees, retirees...
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