Chesapeake Energy reduced its workforce by 15%, primarily in Oklahoma City.
Approximately 220 employees were affected by this action, according to a letter obtained by News 9.
As part of a restructuring in summer 2020, the company decided to reduce the workforce, Chesapeake CEO Doug Lawler said in the letter.
Affected employees will be eligible to receive a severance package which will include a cash payment, the final cash installment of the 2020 bonus program and optional career transition assistance.
“As we prepare to conclude our restructuring, we continue to prudently manage our business and staffing levels to adapt to challenging market conditions and position Chesapeake for sustainable success,” a Chesapeake spokesperson told News 9.
The company's Oklahoma City campus was closed Wednesday while the company notified affected employees by phone.