Chesapeake cuts over 700 jobs
Friday, October 2, 2015
The Wall Street Journal reports that Oklahoma City-based Chesapeake Energy Corp. has laid off 740 of its employees as of Sept. 29.
The cuts represent 15 percent of the company’s employees. Chesapeake is one of the largest oil and gas companies in the United States.
Low oil prices have forced the company to cut back on the number of rigs and slash capital expenditures. Chesapeake Chief Executive Doug Lawler has been trying to pay down debt since he took the position after Aubrey McClendon stepped down in 2013.
Via: The Wall Street Journal > Chesapeake Energy Cuts 15% of Jobs
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