Denbury layoffs, on the record
Every job cut, severance charge and restructuring Denbury reported in its annual reports, 2020 to 2022, quoted from the filings. Headcount went from 657 to 716.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2020 | 657 | — |
| 10-K for 2021 | 716 | period end |
Job cuts, severance and restructuring
Our summaryCut costs in 2020 after the oil price decline, including reducing the workforce.
Word for word“Implemented cost reduction measures including shutting-in production, shutting down compressors, negotiating reductions with vendors, delaying uneconomic well repairs and workovers and reducing our workforce;” 10-K for 2020
Our summaryRan a voluntary separation program that produced severance-related costs.
Word for word“Severance-related expense of $18.6 million during 2019 was associated with our voluntary separation program, the majority of which was paid out in the first quarter of 2020.” 10-K for 2020
Our summaryDenbury and its subsidiaries filed a prepackaged voluntary Chapter 11 bankruptcy to restructure the company, and it emerged from Chapter 11 on September 18, 2020.
Word for word“On July 30, 2020 (the “Petition Date”), Denbury Resources Inc. and its subsidiaries filed petitions for reorganization in a “prepackaged” voluntary bankruptcy (the “Chapter 11 Restructuring”) under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”).” 10-K for 2022
Denbury filed 3 restructuring notices (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Denbury’s annual reports (10-K for 2022, 10-K for 2021, 10-K for 2020) and the financial data it files with the SEC, as of 2023-02-23. 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.