Chesapeake Energy to offer buyouts to 275 employees

Chesapeake Energy Corp.

Oklahoma City-based oil and natural gas company Chesapeake Energy Corp. (NYSE:CHK) has offered a voluntary separation program to certain Chesapeake employees as part of the company’s ongoing efforts to improve efficiencies and reduce costs. The voluntary program is being offered to approximately 275 employees who meet criteria based upon a combination of age and years of Chesapeake service.

Eligible employees will have 45 days to consider the offer. Those employees who choose to accept the offer will separate from the company in February 2013. The company retains the right to temporarily delay key employees' departures from the company to ensure appropriate staffing levels to meet business needs.

Martha A. Burger, Chesapeake’s senior vice president – Human and Corporate Resources, noted, “This program is designed to give our longer-term employees the chance to benefit from their years of service to Chesapeake while furthering our efforts to maximize corporate performance and maintain our leadership role in this competitive and constantly evolving industry.”

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...