UPDATE: More layoffs at Chesapeake, pattern to continue
UPDATE 10 a.m. – Chesapeake is laying off more employees Tuesday and it appears this pattern could continue.
Last week new CEO Doug Lawler sent a letter to employees saying all positions would be evaluated over the next few months.
He said the review should be finished in November.
So far, no word on when the “streamlining” efforts will end.
OKLAHOMA CITY – Chesapeake’s Chief Executive Officer Doug Lawler sent a letter to employees last week about their jobs and the company’s future.
In the letter Lawler states, as a continued effort to protect the company’s future, officials are reviewing all areas of the business, including employees.
He said the review is expected to be finished Nov. 1.
Lawler wrote, “Future staffing adjustments will likely be necessary to properly align resources and improve our overall operating and competitive performance.”
In short, more layoffs could be coming.
Read Lawler’s entire letter below:
Dear Chesapeake Employees,
I recognize and understand that the last few weeks have been especially challenging for everyone. Because misinformation and uncertainty can divert our attention and focus, I wanted to reach out to each of you and clarify a few important issues.
Chesapeake is an outstanding company, but the brightest future for Chesapeake requires all of us to successfully execute our renewed focus on Financial Discipline and Profitable and Efficient Growth from Captured Resources. Consistent with this strategy, and as previously discussed, a comprehensive review of all areas of our business is underway, led by leaders and employees from all levels of the organization. A review of this magnitude for a company of our size takes time, and decisions can only be made after careful thought, consideration, evaluation, and deliberation. Our goal is to complete this process as quickly as possible, and we expect to finish by November 1.
While Chesapeake is a strong and resilient organization that reflects our incredibly talented employees, we must adapt our organizational structure to become a sustainable, profitable company in the energy sector. Future staffing adjustments will likely be necessary to properly align resources and improve our overall operating and competitive performance.
We are working diligently to manage this process in a professional and thoughtful manner. My commitment to you is to maintain the values of our company – specifically integrity, trust, transparency, and open communication. I assure you that we will share information as quickly and appropriately as possible throughout this process.
Change is not easy, but the future success of Chesapeake requires that all of our resources, including employees, assets, strategy and values, are aligned to secure our position as a top performing oil and gas company. Please feel free to raise any concerns or questions you may have with your Vice President or a member of the senior management team. Additionally, I would welcome the chance to hear directly from you, and I promise to read every word.
In addition, please remember that one of our more important employee benefits is our Employee Assistance Program, a free and confidential service available to all employees and their families to help assist during times of transition and change.
I came to Chesapeake because I believe the company has the potential to be the best E&P company in the country. The best is yet to come, and I appreciate all of your continued hard work to achieve that goal.
Chief Executive Officer