Chesapeake Expects Additional Layoffs

Less than a week after laying off a number of vice presidents, Chesapeake Energy indicates more changes are coming.

An email Tuesday from CEO Doug Lawler to Chesapeake employees said a comprehensive review of company operations would be completed by Nov. 1.

Chesapeake employs 12,000 people in more than a dozen states. The company has not revealed the number of positions to be cut.

"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 wrote. "Future staffing adjustments will likely be necessary to properly align resources and improve our overall operating and competitive performance."

READ LAWLER'S EMAIL HERE.

Last month, Chesapeake announced the departure of several executive vice presidents who had served for years under co-founder and former CEO Aubrey McClendon.