Chesapeake Cuts Jobs By 10 Percent

Chesapeake Energy Corporation (NYSE:CHK) has laid off over 1,200 jobs this year, amid accelerated cost cutting exercise initiated by its new CEO.

Following dozens of previous layoffs during the past weeks, the country’s second-largest natural gas producer laid off 800 workers.

Chesapeake's cost cutting drive

As reported last week, Robert Douglas Lawler, the new chief executive officer of Chesapeake Energy Corporation (NYSE:CHK) is expected to complete a comprehensive review of the company structure by November 1.

Lawler succeeded Aubrey McClendon who was forced to resign...