Chesapeake CEO Doug Lawler said Tuesday that the company's restructuring should be complete by Nov. 1 (By Adam Wilmoth) :::::
Chesapeake Energy Corp. CEO Doug Lawler on Tuesday acknowledged what many employees have feared.
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“Future staffing adjustments will likely be necessary to properly align resources and improve our overall operating and competitive performance,” Lawler said Tuesday in an internal email to Chesapeake employees.
In the internal email, Lawler said the company is working to continue its focus on financial discipline and that a “comprehensive review of all areas of our business is underway.”
“While Chesapeake is a strong and resilient organization that reflects our incredibly talented employees, we must adapt our organizational structure to become a sustainable, profitable company in the energy sector,” Lawler said in the statement.
Lawler said the review is expected to be complete by Nov. 1.
A Chesapeake representative declined further comment Tuesday.
Chesapeake has not addressed whether there have been layoffs at the company, although The Oklahoman has confirmed that several employees have been laid off recently.
“Change is not easy, but the future success of Chesapeake requires that all of our resources, including employees, assets, strategy and values, are aligned to secure our position as a top performing oil and gas company,” Lawler said in Tuesday's memo.