ST. LOUIS, June 8, 2015 /PRNewswire/ -- Peabody Energy (NYSE: BTU) President and Chief Executive Officer Glenn Kellow today announced plans to reduce approximately 250 corporate and regional positions in coming months to create a leaner organization and lower costs. When fully implemented later this year, these reductions are expected to save $40 million to $45 million
per year.

"While we regret the impact that these actions have on employees, their families and communities, today's announcement represents another necessary step to drive the company lower on the cost curve," said Kellow. "To remain most competitive in the current environment, Peabody is implementing a number of initiatives in the operational, SG&A, financial and portfolio management areas of our business."

The reductions represent approximately 25 percent of corporate and regional support positions, and the majority of reductions are expected to occur in the second quarter. Actions also include delayering of the organization and closing of offices in Evansville, Indiana and Gillette, Wyoming. Any charges associated with the actions are not included in the company's previously announced financial targets, and will be reviewed in the second quarter earnings release.

In addition, the company is undertaking a review of shifts, scheduling and mine planning at operations in Australia to determine optimal production levels.

Peabody Energy is the world's largest private-sector coal company and a global leader in sustainable mining, energy access and clean coal solutions. The company serves metallurgical and thermal coal customers in more than 25 countries on six continents. For further information, visit PeabodyEnergy.com and AdvancedEnergyForLife.com.

CONTACT:
Vic Svec
(314) 342-7768

Peabody Energy.

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SOURCE Peabody Energy

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