Chesapeake Energy lays off 740 workers companywide

OKLAHOMA CITY (AP) — Citing low energy prices, Chesapeake Energy Corp. said Tuesday it was laying off 740 employees, most of them at its Oklahoma City headquarters, after the company reported a second-quarter loss of more than $4 billion in August.

The company said the layoffs represent about 15 percent of its workforce, cuts that will hit hardest at the company's Oklahoma City office, where more than 560 people lost their jobs. Following the layoffs, the oil and natural gas producer will still employ about 4,000 people, including about 2,500 in Oklahoma City.

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