B.C. coal miners face holiday layoffs

The largest employer in the Kootenays is scaling back its workforce to weather the economic times.

Teck Cominco, which employs about 5,000 people in southeastern B.C., announced Monday it will close its five coal mines over the holidays.

A zinc mine just across the U.S. border in Washington State that supplies concentrate to Teck's smelter in Trail, B.C., is also shutting down.

"Obviously, the downturn in the global economy is having an impact on our business and we are acting to position our business both in the short term and long term," said spokeswoman Sarah Goodman.

"There is reduced demand and persistent weakness in zinc prices, which has prompted this decision, and we are just generally being prudent with our cash."

Cash is something Teck desperately needs. Since buying the B.C. coal mines the company's debt has soared while its stock prices have tumbled.