EQT Corporation (EQT) announced it will be cutting 15% of its workforce as it closes its acquisition of Equitrans Midstream. EQT CEO Toby Rice joins Julie Hyman on Asking for a Trend to discuss the reduction.

"The company that we purchased, Equitrans Midstream, was a pipeline business, and a big part of the jobs they created were building pipelines," Rice tells Yahoo Finance. "It's never been more difficult to get energy built in this country. The pipeline that we just got completed, the Mountain Valley pipeline... And it's very difficult to see anybody looking to do any more large-scale pipeline jobs like that. As such, workforces need to be altered accordingly. I think this is a great opportunity for us to recognize the need for us to get back to building more infrastructure."

The CEO adds, "It's not just the customers [who] are paying unnecessarily higher energy prices. It's also real jobs here in this area. Now, fortunately, these individuals have built up a ton of skills, and I'm sure they'll be back to work sometime soon. But we've got to get to a place where their services are needed because we can do a whole heck of a lot more. But we need the opportunity in the regulations in place so that we can get things built in this country."

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This post was written by Naomi Buchanan.