Chesapeake Energy (Chesapeake Energy) on Tuesday, September 29), said the company has cut about 15% of the workforce, or 740 jobs. Oil and gas prices downturn forces, the second largest gas producer for deeper cost cuts.

The company now has about 4000 workers, have cut back on capital spending by 40% this year, and reduce operating costs and dividend, due to the price of crude oil, drilling last for months cannot make profit.

Chief executive Doug Lawler wrote in an internal memo, although it is extremely difficult, but their acting decisively, carefully to improve the long-term competitiveness of Chesapeake and strength.

Chesapeake is the no. 2 gas producer and important oil producers, it says, it will pay $55.5 million in the third quarter of the one-time fee for related payroll taxes, according to the regulation the securities and exchange commission (SEC) file. And these will be paid in cash.

Based on Chesapeake stock in Oklahoma city, has fallen 65% so far this year, the exploration and production fell 35% more poor.