Ch­e­sa­peake Energy an­nounces it is lay­ing off 740 work­ers com­pa­ny­wide

The China Post - - WORLD BUSINESS -

Cit­ing low energy prices, Ch­e­sa­peake Energy Corp. said Tues­day it was lay­ing off 740 em­ploy­ees, most of them at its Ok­la­homa City head­quar­ters, af­ter the com­pany re­ported a sec­ondquar­ter loss of more than US$4 bil­lion in Au­gust.

The com­pany said the lay­offs rep­re­sent about 15 per­cent of its work­force, cuts that will hit hard­est at the com­pany’s Ok­la­homa City of­fice, where more than 560 peo­ple lost their jobs. Fol­low­ing the lay­offs, the oil and nat­u­ral gas pro­ducer will still em­ploy about 4,000 peo­ple, in­clud­ing about 2,500 in Ok­la­homa City.

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