Calpine layoffs, on the record
Every job cut, severance charge and restructuring Calpine reported in its annual reports, 2017 to 2019, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2017 | 2,290 | At December 31, 2017 |
| 10-K for 2018 | 2,282 | December 31, 2018 |
| 10-K for 2019 | 2,256 full-time employees | At December 31, 2019 |
Job cuts, severance and restructuring
Our summaryThe filing reports a $23 million increase in severance and other employee-related costs in 2017 compared to 2016, which was one component of higher normal operating and maintenance expense.
Word for word“Our normal, recurring operating and maintenance expense increased by $2 million during 2017 compared to 2016 after excluding the effect of a $68 million increase associated with the expansion of our retail portfolio through the acquisitions of Calpine Solutions in December 2016 and North American Power in January 2017 partially offset by the period-over-period effect of power plant portfolio changes, a $23 million increase in severance and other employee-related costs, a $6 million increase in equipment failure costs primarily due to Delta Energy Center partially reduced by the receipt of insurance proceeds, and a $4 million increase in major maintenance expense resulting from our plant outage schedule.” 10-K for 2017
Our summaryThe company terminated the employment of executive W.G. (Trey) Griggs and paid him severance under the Severance Plan.
Word for word“For Mr. Griggs, the amount includes $6,869 in employer contributions to the Company's 401(k) Plan and $2,984,300 in severance payments in connection with his employment termination in March 2018.” 10-K for 2018
Calpine has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Calpine’s annual reports (10-K for 2019, 10-K for 2018, 10-K for 2017) and the financial data it files with the SEC, as of 2020-02-25. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.