EQT set to announce layoffs - report

Sep. 09, 2019 3:37 PM ETEQT Corporation (EQT)EQTBy: Carl Surran, SA News Editor10 Comments
  • EQT Corp. (EQT +9.6%) is preparing plans to lay off ~200 employees in a move that could happen sometime this week, Pittsburgh Business Times reports.
  • The reductions are not related to the steep drop in natural gas prices that have hit the industry in recent years but instead stem from the desire to reduce expenses, as promised to shareholders by the Rice team, according to the report.
  • The layoffs, which would mark the second round of cuts since January when ~100 workers were laid off, would comprise a large chunk of the ~800 employees at the Pittsburgh-based natural gas driller.

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