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.
It was not immediately clear where or when the job cuts within the natural gas company would be made.
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.