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Oklahoma City-Based SandRidge Energy Announces 440 Layoffs

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OKLAHOMA CITY (AP) — Oklahoma City-based SandRidge Energy Inc. is laying off 440 employees.

SandRidge CEO James Bennett told The Oklahoman layoffs are due to continuing low prices for oil. Bennett said the affected employees are being given undisclosed severance packages.

The company did not immediately respond to a request for comment from The Associated Press.

Bennett said the employees laid off range from field workers to upper management and include two executive vice presidents and one senior vice president. SandRidge now has 717 employees companywide and 376 in Oklahoma City — down from 1,157 companywide and 548 in Oklahoma City at the end of 2015.

The layoffs come less than a month after SandRidge laid off 226 of its 260 employees at its Lariat Services Group subsidiary in northwestern Oklahoma.