Chesapeake Cuts Jobs By 10 Percent

Chesapeake Energy Corporation (NYSE:CHK) has laid off over 1,200 jobs this year, amid accelerated cost cutting exercise initiated by its new CEO. Following dozens of previous layoffs during the past weeks, the country’s second-largest natural gas producer laid off 800 workers. Chesapeake’s cost cutting drive As reported last week, Robert Douglas Lawler, the new chief executive officer of Chesapeake Energy Corporation (NYSE:CHK) is expected to complete a comprehensive review of the company structure by November 1. Lawler succeeded Aubrey McClendon who was forced to resign from his position in June, because of controversies surrounding the energy company. Citing restructuring initiatives, the…