Chesapeake Energy Fires Workers

Chesapeake Energy has announced that they have fired workers, which verified rumors that have been floated around for the last few weeks. In total, Chesapeake Energy is believed to have lowered it’s number jobs in their Oklahoma City corporate office from 3,300 to 3,250.

Outside of Oklahoma City, the company claims to have more than 5,000 other employees around the United States. Despite these recent job losses, Chesapeake Energy claims to have created 900 net jobs in the last year — 350 of which were in Oklahoma City.

As of late, Chesapeake Energy has been in the news a lot. Recently, they were hit by a number of lawsuits after reports surfaced of a $75 million bonus for Aubrey McClendon, the CEO of the company.

On Monday, Chesapeake Energy shares dropped from $20.95 at the beginning of the day to $19.36 by the end of the day.

Chesapeake Energy is regarded as one of the largest producers of natural gas. These job losses were blamed on falling natural gas prices.

Chesapeake Energy (Image: Flickr)