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Chesapeake reorganizes amid layoff reports

The company would not confirm it was cutting jobs, but email accounts of several employees are no longer active.
BY JAY F. MARKS Modified: September 10, 2013 at 9:36 pm •  Published: September 10, 2013

Chesapeake had more than 13,000 employees at that time, but its most recent annual report in April indicated it now has about 12,000. The company had more than 4,700 employees in Oklahoma City as of Jan. 31, according to a report it provided to the city in March.

In the company's Aug. 1 earnings call with analysts, Lawler said he had launched a “comprehensive review” of Chesapeake's assets and organization. He said he planned to work with senior management to help Chesapeake realize its full potential.

Four senior executives, including former interim CEO Steve Dixon, were fired Aug. 12 as part of the company's reorganization effort.

“This is a business decision resulting from Chesapeake's continuing transformation to where we want to be as a top-performing company,” Lawler told The Oklahoman when the moves were announced.

The future of Chesapeake's affiliates is part of its ongoing review, Lawler said in last month's earnings call.

Chesapeake officials are looking at the return its affiliates are generating to determine the best way to make the company more competitive.

“If it's not adding value and not return-centric that adds to our competitive position, we will look to divest of it,” Lawler said last month.

Subsidiary Chesapeake Oilfield Services includes the company's drilling, pressure pumping, oil-field services and equipment manufacturing businesses. That company's organizational structure remains unchanged under CEO Jerry Winchester, according to Lawler's email to employees.

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