Press "Enter" to skip to content

PES to begin laying off union refinery workers on Thursday: sources

(Reuters) – Philadelphia Energy Solutions will begin laying off some of its 640 union workers on Thursday, more than a week before its stated Aug. 25 termination date, two sources familiar with the plan said.

It was not clear exactly how many of the workers would be laid off early from the East Coast’s largest and oldest oil refinery, but it is expected to be “a significant number,” one of the sources said.

PES is likely to continue to pay union employees through Aug. 25, the sources said, as the U.S. company continues to wind down its operations after filing for bankruptcy last month.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.