Chesapeake Energy is dropping after laying off 13% of its workforce (CHK)

Chesapeake Energy shares are falling after the company announced about 400 layoffs.
The job cuts come after Chesapeake sold some of its well assets.
Watch the stock trade in real time here.Shares of Chesapeake Energy dropped 5.28% to $3.67 on Tuesday after the company laid off about 13% of its total workforce.
The cuts come from the company's Oklahoma City-based location, and leave about 400 people without a job. CEO Doug Lawler said the cuts did not come easily, and that the employees would be