PITTSBURGH, Pa. — A reorganization will reduce the total workforce for EQT Corporation by 23 percent, 196 positions, according to company information released earlier this week.
In a press release, officials said the new structure would “simplify the company from 58 to 15 departments, streamline management and focus the organization.”
The reductions were estimated to result in $50 million in annual savings.
“I’d like to thank those employees who are leaving for their contributions to EQT,” said Toby Rice, EQT chief executive officer.
“We firmly believe this a step we must take to create a more efficient organization and to enable our employees to succeed.”
This is a developing story.