The accelerated decline of the coal industry has led Babcock & Wilcox to restructure its traditional power business, seeking to reduce overhead and boost efficiency to help offset a loss of coal-related revenue. The company said it expects a 15% to 20% reduction in U.S. coal customer demand for parts and services by 2017 or 2018.
B&W eliminated about 200 positions, and consolidated aftermarket and global new build activities for coal-fired generation into one segment that will be led by Mark Low, senior vice president of the new power segment.
