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Hundreds of EQT employees to be laid off

A Cabot Oil and Gas natural gas drill stands at a hydraulic fracturing site on January 18, 2012 in South Montrose, Pennsylvania. (Photo by Spencer Platt/Getty Images)

PITTSBURGH — EQT Corp. is readying plans to lay off around 200 employees in a move that could happen sometime this week.

Multiple sources told the Business Times about the plans for the layoffs, which would be a significant portion of the 800 or so employees that are working at the downtown Pittsburgh-based natural gas driller. It would be the second round of layoffs at EQT (NYSE: EQT) since January, when about 100 employees were laid off by the previous management team.

EQT declined comment.

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