OKC oil company cuts 121 jobs

Oklahoma City-based Chaparrel Energy Inc. laid off 121 workers amid depressed oil prices.

As of the end of 2012, Chaparrel employed 746 full-time workers, including around 350 at its Oklahoma City headquarters, according to NewsOK, which cited the company’s most recent annual report.

Chaparrel, which has received $4.1 million in jobs’ incentives from the state of Oklahoma since 1998, said it is providing impacted employees with outplacement services as part of a severance package.

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