Top U.S. natural gas producer Chesapeake Energy cuts jobs

- Chesapeake Energy, a top U.S. natural gas producer, began laying off employees this week after completing the divestiture of its oil assets last year, the company said on Monday.

In early 2023 it sold some of those assets to INEOS Energy for $1.4 billion, and later that year completed the divestiture by selling the remaining assets to SilverBow Resources for $700 million.The Oklahoma City, Oklahoma-based company is in the process of completing a $7.4 billion merger with Southwestern Energy. That deal is set to close in the second half of this year, later than originally anticipated after U.S. Federal Trade Commission sought additional information.

As part of that deal, the company will replace current General Counsel Benjamin Russ with Southwestern General Counsel Chris Lacy, according to a regulatory filing on May 7.Trump Media and Technology Group, the company affiliated with former U.S. president Donald Trump that operates Truth Social, reported $770,500 in revenue for the first quarter of 2024 and a net loss of $327.6 million. Shares in Sarasota, Fla.

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