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The company was placed into receivership yesterday, with PricewaterhouseCoopers meeting with workers this morning.
At least one worker walked out after being told he would not get a redundancy payout or a performance bonus, according to 3News.
A media conference over the redundancies is expected to be held this afternoon.
Various reports indicate that 114 miners out of the post mining disaster workforce of 157 will immediately lose their jobs.
Pike River Coal plans to notify the unlucky workers by mail this afternoon.
The New Zealand Herald reported that the workers would receive a maximum payout of $NZ18,700 for wages, holiday pay and redundancy.
The payments are expected to be made before Christmas.
