 Solid Energy's annual report for the financial year ended June 2012 was released in November and showed a loss of $40 million, a decline of 146% from the profit for 2011.In December 2012, workers at mines owned by Solid Energy were repeatedly rejecting pay cuts and reductions in hours.Solid made 235 employees redundant at the Spring Creek mine, and reduced the workforce at the Christchurch head office by 163 positions, as well as cutting 60 jobs at the Huntly East mine.