An Oklahoma City news network reported today layoffs at Chesapeake Energy. Chesapeake cut 740 positions company-wide; roughly 19-percent of their OKC workforce and 15-percent of their total workforce.
The company also plans to take a one-time charge in the third quarter of $55.5 million.
The charge is related to employer payroll taxes, Chesapeake said in a filing Tuesday. Before the cuts, Chesapeake employed approximately 3,200 people in Oklahoma City, and 5,500 people in the U.S. Chesapeake is the second-largest producer of natural gas and the 11th largest producer of oil and natural gas liquids in the United States.
In August the company reported a second quarter loss of $4.11-billion, after reporting a profit in the same period a year earlier.