Chesapeake to cut 70 jobs, reduce Barnett workforce to 700
Another Enron on the way??
By Jim Fuquay
jfuquay@star-telegram.com
Chesapeake Energy said today it will cut 70 employees in North Texas, or about 8 percent of its workforce in the Barnett Shale, as the natural gas producer reduces its activity here.
Chesapeake, the second-largest producer in the Barnett Shale, said it will employ about 700 in the field after the cuts are made. The Oklahoma City-based company has said previously that its peak employment here was about 1,200.
The company also said it plans to relocate about 60 employees in a pipeline subsidiary from Chesapeake Plaza, home to its Fort Worth regional office, to a downtown Fort Worth building. It said that while Chesapeake would entertain offers for the office building, which it bought in 2008 from Pier 1 Imports, it is not listed for sale and the company expects to continue to occupy it.
Read more here: http://www.star-telegram.com/2012/06/19/4043018/chesapeake-to-lay-off-70-in-barnett.html#storylink=cpy
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