140 jobs cut at B.C. coal company amid competition from China
Elk Valley Resources (EVR) has announced it is cutting 140 staff jobs in B.C., citing steep drops in steelmaking coal prices driven by global economic challenges and competition.
The company confirmed the layoffs in a statement shared with Daily Hive on Wednesday.
According to EVR, the cuts are part of broader efforts to reduce costs and maintain global competitiveness amid “challenging market conditions,” including increased steel exports from China.
“In response to these market conditions, EVR is working to improve efficiency and reduce costs across our business to ensure our company is globally competitive,” the company said in a written statement to Daily Hive.
While 140 jobs were affected, EVR emphasized that “the majority of the affected employees have been reallocated into current vacant positions across the business.”
EVR is located 19 km NE of Elkford, B.C., Canada.
For those who were not placed into new roles, EVR says support is being provided.
The job cuts are part of an industry-wide response to softening demand and shifting global trade patterns. Steelmaking coal, a key material used in the production of steel, has seen a significant price decline in recent months.
EVR has not yet specified which specific roles or sites were impacted.
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