CONWAY, Ark. (KTHV) -- Southwestern Energy announced a reduction in force Thursday morning.
According to officials, more than 1,100 employees were impacted by the layoff; around 600 of those are associated with the Fayetteville Shale operations.
Christina Fowler with SWN said, "Natural gas prices have continued to decline over the past year, creating conditions where cash flow to fund projects will be significantly lower that it has been the past few years. This has led to a need to reduce the company's overall workforce. These organizational changes are required to maintain competitiveness in this low gas price environment. We regret having to make this decision and we thank all of our employees who were affected by today's announcement for their contributions to Southwestern Energy Company."
She added that severance, outplacement services, employee assistance, and other benefits are being provided to impacted employees and their families.
