Chesapeake Energy Lays Off 86, Restructuring To End By Nov 1

Chesapeake Energy Corporation (NYSE:CHK) announced that it is laying off 86 people on Tuesday, in what is expected to be the first of many more layoffs as the company restructures, reports Nicholas Sakelaris for the Dallas Business Journal.

Chesapeake Energy's restructuring

Restructuring started last June when CEO Doug Lawler replaced Aubrey McClendon. The first people to go were four high-level executives fired last month, but some reports expect as many as 2,000 jobs out of about 12,000 will be eliminated before the process is finished. The...