Thread regarding Chesapeake Energy Corp. layoffs

Hearing health and wellness program to be cut entirely along with annual incentives, campus gym to be sold off and run by private company and small membership fee increase, all restaurant employees will be shifted to 1099 vs w-2 employees when possible, regular employees bonuses for remaining employees to be reduced 20-35% and almost no stock grants will be issued as it dilutes the stock and hampers stockholder value, 401k plan being revamped looking at 3-5% matching for first 5k only and longer vest period but not decided. I would recommend sending out resumes and making the move if you can, more of a better safe than sorry. Chk dollars program to be stopped entirely in October-November once plans are finalized. I would expect most layoffs to be complete prior to end of December at the latest to avoid doing performance reviews and awarding bonuses. Best of luck to all of you and my sincerest regrets the supervisors did not forecast the layoffs earlier. Some knew that more were coming while others, thought after separation packages were offered it was a done deal. Basically, they will cut everything the company can do without or if they can contract it out cheaper.