About 1,000 workers represented by the United Mine Workers of America have been on strike at Warrior Met Coal since April 2021. But the strike's beginnings can be traced back to 2016, when Warrior Met bought the mines from bankrupt Walter Energy.
As part of the corporate restructuring, the coal miners agreed to a $6 an hour pay cut and a"substantial" reduction to their health and retirement benefits, according to Sanders, I-Vt., Warren, D-Mass., and Baldwin, D-Wis. But since the company's rebound from bankruptcy and return to profitability, its workers have not had their compensation restored as promised, Sanders told CNBC.
"Instead of providing the kind of wages and benefits that the workers need and are entitled to, what is being offered is a totally unsatisfactory contract," Sanders said Thursday afternoon."We're saying to Mr. Fink, 'Do the morally right thing.' What we're asking for is: 'Tell the company executives to sit down negotiate a fair contract with the union.'"
This isn't the first time Sanders and Warren have needled Wall Street titans to support workers at major investments.
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