Lay-offs At Chesapeake

Ponca City Now - September 26, 2013 1:07 pm

OKLAHOMA CITY (AP) – Oklahoma City-based Chesapeake Energy has laid off 86 employees in 11 departments.

The Oklahoman and The Journal Record report that CEO Doug Lawler announced the layoffs in an email to employees on Tuesday.

The cuts involved people in departments ranging from administrative services and communications to human relations and information technology. It did not say where the people were based.

Lawler said in the email that the changes will help the company become more profitable.

Lawler joined the company as chief executive in June. He has been working to reduce operating expenses. During an August quarterly earnings call with analysts, he said the company would be on budget. This would be the first time in the company’s 24-year history.

A recent annual report says Chesapeake has more than 12,000 employees.

 

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