Chesapeake Energy Lays off 200 Okla. Workers, Stock Slides More

Yesterday we told you that Chesapeake Energy's reverse stock split (effective on Wednesday) of combining 200 shares into a single new share didn't work out so well initially (see Chesapeake’s Reverse Stock Split Bombs, Company “On Life Support”). The company was on life support...now it's amputative surgery. The company is laying off 200 employees in Oklahoma--half at its headquarters and the other half in the field.

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