Seeking Alpha

Chesapeake Energy (CHK) says it will offer buyouts to 275 employees, the third round of staff...

Chesapeake Energy (CHK) says it will offer buyouts to 275 employees, the third round of staff cuts it has made in six months as it struggles to keep costs in line amid lower natural gas prices. The move also could have been prompted by CHK not meeting its desired price for pipeline and midstream assets it recently sold (I, II), analyst Phil Weiss says.
Comments (3)
  • To start with, CHK has way too many employees at 12,600. The small number of employees being offered a retirement package too is way too small. For one, CHK is no longer trying to acquire additional acreage so let go many of these folks involved in this type activity. Compare the number of employees for a company like EOG Resources and it will floor you as compared to CHK. Are you ready for the numbers: US employees 1,811 plus outside US employees 297. A much more valuable and better run company in all aspects.

     

    CHK is making progress to upright the ship but needs to get more serious of the fact that it needs to drastically downsize staff.
    14 Dec 2012, 02:59 PM Reply Like
  • There is 1 certain employee that needs to be let go and the savings realized would be greater then canning these folks...not to mention avoiding the next CHK fiasco
    14 Dec 2012, 05:02 PM Reply Like
  • could not agree more..
    14 Dec 2012, 08:58 PM Reply Like
DJIA (DIA) S&P 500 (SPY)