{"id":5861,"date":"2016-08-18T18:10:38","date_gmt":"2016-08-18T18:10:38","guid":{"rendered":"http:\/\/minutes.machine.market\/?p=5861"},"modified":"2016-08-18T18:10:38","modified_gmt":"2016-08-18T18:10:38","slug":"virginia-based-carter-machinery-to-restructure-due-to-coal-industry-depression","status":"publish","type":"post","link":"https:\/\/machine.market\/blog\/virginia-based-carter-machinery-to-restructure-due-to-coal-industry-depression\/","title":{"rendered":"Virginia based Carter Machinery to restructure due to ‘coal industry depression’"},"content":{"rendered":"

Carter Machinery<\/a> has announced another round of restructuring, but has not yet released the number of employees who may be impacted in the company\u2019s two Mercer County, VA locations.<\/p>\n

In a release issued today from corporate headquarters in Salem, Va., the company said the depth and duration of the coal industry depression has reached a point requiring more aggressive cost structure alignment.<\/p>\n

\u201cAs a result of continued deterioration of the Central Appalachian coal mining industry and the fact that we envision no signs of improvement in the foreseeable future, we have made the very difficult decision to align our locations, employment level, and overall cost structure to the market realities we face.\u201d<\/p>\n

\u00a0The company said it has initiated cost reduction moves and tried to retain employees.<\/div>\n

\u201cOne of our key objectives has been to retain our highly capable employees, including an initiative to make available opportunities for employees in our coal mining stores to move to the eastern part of our territory, where customer activity is stronger,\u201d the company said. \u201cThis initiative included relocation support to help with move expenses. We\u2019ve been successful in moving many of our talented employees to several branches within our territory.\u201d<\/p><\/blockquote>\n

Carter\u2019s priorities during this time, the company added, is to \u201cinclude respect and compassion for our employees and their families and continuing to serve our customers effectively.\u201d<\/p>\n

According to BDT Online<\/a>, the company laid off 33 employees in April.<\/p>\n

At that time, company officials said depressed global economies, which impacted demand for metallurgical coal, as well as reductions in electricity generated by coal fired power plants, has led to \u201cthe deepest and longest Central Appalachia coal producers and suppliers have experienced in several decades, if not ever.\u201d<\/div>\n

Janet Bailey, the county\u2019s economic development director, said she knew Carter was making another cost-savings move, but she doesn\u2019t know how many employees will be impacted.<\/p>\n

\u201cThey told me the same thing (as in Thursday\u2019s press release),\u201d she said. \u201cI tried to touch base with them to see if there was anything we could do or have representatives from the state visit, but they would provide no more information.\u201d<\/p>\n

\u00a0Marc Meachum, director of the Bluefield Chamber of Commerce, said the number of the company\u2019s employees at the call center on Commerce Street has dwindled.<\/div>\n

\u201cThere\u2019s five or six now,\u201d he said. \u201cAt one time it was between 20 and 25.\u201d<\/p>\n

Carter\u2019s other Mercer County operation is the Caterpillar<\/a> facility on Clover Dew Dairy Road in Princeton.<\/p>\n

\"Carter-CAT-machinery-2\"<\/p>\n