- Associated Press - Monday, June 8, 2015

GILLETTE, Wyo. (AP) - Peabody Energy, the largest private coal company in the world, is cutting 250 corporate positions and is closing its office in Gillette.

The Casper Star-Tribune reports the layoffs amount to about 25 percent of the St. Louis-based company’s corporate and regional support positions and follow a prolonged period of low prices. Peabody says it expects the reduction will save between $40 million and $45 million annually.

About 20 employees will be laid off in Gillette, where Peabody employed 50 people at its regional office. About 30 people from the Gillette office will be reassigned to other locations in Campbell County.

Peabody operates the North Antelope Rochelle Complex near Gillette, the world’s largest coal mine.

The Gillette News Record reports cheap natural gas has dragged coal prices down.

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