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Tuesday, Oct 8
Chesapeake cuts 800 employees, wrapping up 10% workforce reduction
- Chesapeake Energy (CHK) lays off 800 employees nationwide, including 640 at its Oklahoma City headquarters, apparently concluding the changes that have led ~1,200 people to leave the company since the first of the year.
- After today's cuts, CHK has about ~11K employees nationwide, including 3,500 in OK City.
- CHK has sold ~$4B in assets this year in addition to trimming jobs.