CNX cuts workforce to compensate for low natural gas prices

CNX cuts workforce to compensate for low natural gas prices

Friday, November 8, 2019 by Sara Welch

CNX remains optimistic about 2020 despite low natural gas prices, according to Trib Live.

The company has continued to adjust to the weak market, cutting 14% of its workforce and laying off 70 employees in August. It expects to realize $25 million in savings from “reconfiguring” workflows and combining functions during the third quarter.

CNX reported net stock earnings of $116 million and a consolidated net income of $144 million in the third quarter.

Learn more: Trib Live > CNX says it’s adjusting to low natural gas prices

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