Peabody Energy expects corporate cuts to save $40M-$45M/year

• Peabody Energy (NYSE:BTU -2.8%) announces leaner a corporate structure with a planned reduction of ~250 salaried positions, a move it expects to save $40M-$45M/year.
• BTU says the cuts represent ~25% of corporate and regional support positions, and the majority of cuts are expected to occur in Q2; BTU also says it is undertaking a review of shifts, scheduling and mine planning at operations in Australia to determine optimal production levels.