Chesapeake Energy lays off approximately 200 employees

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Chesapeake Energy Corporation

OKLAHOMA CITY (KFOR) – Chesapeake Energy employees were notified that approximately 200 employees are being laid off, primarily in Oklahoma City.

Chesapeake Energy provided KFOR the notice that Chief Executive Officer Doug Lawler sent to Chesapeake employees on Thursday, stating that 15 percent of the company’s workforce is being laid off. Most of those laid off work in Oklahoma City.

“The market environment has significantly impacted our operating platform, resulting in Chesapeake having to make the difficult decision to reduce our workforce by approximately 15%,” the company notice states.

Chesapeake Energy, an Oklahoma City-based shale drilling pioneer that helped turn the United States into a global energy powerhouse, filed for bankruptcy protection in late June.

Employees who are laid off are eligible to receive a severance package that the notice says will include a cash payment and optional career transition assistance.

“While Chesapeake is not alone in reducing staff during this challenging time, we recognize that does not dampen the disappointment in receiving this news,” the notice states.

Laid-off field employees have already been notified of their lay off, and laid-off campus employees will be notified by phone, the notice states.

“The Oklahoma City campus, with the exception of the Child Development Center, will be closed tomorrow, and we ask that employees not come to campus,” the notice states.

The following is the notice from Lawler in its entirety:

Dear Colleagues,

The market environment has significantly impacted our operating platform, resulting in Chesapeake
having to make the difficult decision to reduce our workforce by approximately 15%, primarily in
Oklahoma City. Affected employees will be eligible to receive a severance package which will include a cash payment and optional career transition assistance.

While Chesapeake is not alone in reducing staff during this challenging time, we recognize that does not dampen the disappointment in receiving this news. Approximately 200 employees are affected, and I am very thankful for their numerous contributions and dedication to our company.

Impacted field employees have already been notified. Impacted campus employees will be notified by phone tomorrow morning. We would prefer to make these difficult notifications in person, yet are unable to do so because of the current health concerns that are well known to all. The Oklahoma City campus, with the exception of the Child Development Center, will be closed tomorrow, and we ask that employees not come to campus.

We anticipate notifications will be completed by midday, and I will follow-up with additional information when it becomes available.

Doug Lawler
Chief Executive Officer

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