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Consol Eliminating 470 Jobs Citing Depressed Energy Prices

The company is eliminating roughly 10 percent of the workforce.

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Consol Energy Inc. is laying off nearly 500 workers from its natural gas and corporate divisions.

The Cecil, Pennsylvania-based company said Tuesday that it's cutting 290 jobs from its gas and corporate divisions and 180 workers in its Pennsylvania coal mines. That's roughly 10 percent of the company's workforce.

The move comes after the firm laid off about 165 employees from its gas and corporate departments. Consol also announced last month that it would end retiree benefits for about 4,400 former employees by the end of the year.

Spokesman Brian Aiello says the latest round of job cuts is "difficult but prudent," given the "depressed nature of the commodity prices."

About a dozen other natural gas and coal companies have announced layoffs in the past year, citing low fuel prices.

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