EQT Corp said on Tuesday it would lay off about 15% of its workforce as part of an "integration process" following its $14 billion acquisition of Equitrans Midstream.
This marks the natural gas producer's biggest job cut since 2019, when it laid off about 23% of its workforce just months after Toby Rice joined the company as its top boss.
In March, EQT agreed to buy Equitrans - its former pipeline unit - in a bid to help boost natural gas margins as producers struggled with a decline in natural gas prices , which collapsed to multi-year lows earlier this year.
https://www.reuters.com/business/energy/eqt-corp-layoff-15-workforce-2024-10-01/