PITTSBURGH (KDKA) — Gas and oil company EQT is laying off nearly 200 workers.

According to our news partners at the Pittsburgh Post-Gazette, the new CEO of EQT Corp. sent a letter to the company’s about 850 employees calling the layoffs “difficult but necessary.”

He also thanked those let got for their work. The PG reports they will be offered severance packages.

In the letter, the CEO goes on to say: “Our intention is to carry out the process as quickly as possible so employees know where they stand and to treat impacted employees with the dignity and respect that they deserve.”

Stay with KDKA for the latest on this developing story.