Layoffs Underway At Chesapeake Energy - News9.com - Oklahoma City, OK - News, Weather, Video and Sports |

Layoffs Underway At Chesapeake Energy

Posted: Updated:
OKLAHOMA CITY -

News 9 has learned layoffs are underway at Chesapeake Energy. A total number has not been confirmed at this time, but News 9 is told that up to a thousand employees may have been let go.

Chesapeake employs approximately 3,200 people in Oklahoma City and is the 11th largest employer, according to the Greater Oklahoma City Partnership. They employ 5,500 people in the U.S.

It is unclear if the job losses will be felt just in Oklahoma City or if the cuts are being made company-wide.

Chesapeake is the second-largest producer of natural gas and the 11th largest producer of oil and natural gas liquids in the United States.

In August the company reported a second quarter loss of $4.11-billion, after reporting a profit in the same period a year earlier.

Chesapeake stock is currently trading just below $7 and has a 52-week high of $25.42 and a 52-week low of $6.01.

Keep checking with News 9 and News9.com for more information. 

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