Stratrix
On the Record · Foresight Energy

Foresight Energy layoffs, on the record

Every job cut, severance charge and restructuring Foresight Energy reported in its annual reports, 2017 to 2019, quoted from the filings. Headcount went from approximately 982 to approximately 1,030.

Headcount, as reported

Annual reportEmployeesAs of
10-K for 2018approximately 982December 31, 2018
10-K for 2019approximately 1,030December 31, 2019

Job cuts, severance and restructuring

  1. Our summaryCompleted a global restructuring of its indebtedness, which alleviated existing defaults and events of default across its capital structure. August 30, 2016

    Word for word“On August 30, 2016 (the “2016 Restructuring Closing Date”), we completed a global restructuring of our indebtedness.” 10-K for 2017

  2. Our summaryThe company and its subsidiaries filed for Chapter 11 bankruptcy protection to carry out a financial restructuring of its debt. March 10, 2020

    Word for word“On March 10, 2020 (the “Petition Date”), the Partnership, including FEGP, FELP, and its direct and indirect subsidiaries (collectively, the “Foresight Debtors”) filed voluntary petitions for relief under chapter 11 (the “Bankruptcy Petitions”) of the Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of Missouri (the “Bankruptcy Court”).” 10-K for 2019

  3. Our summaryThe company recorded legal and financial advisor fees for its debt restructuring and bankruptcy filing during 2019. During the year ended December 31, 2019 · Cost: $7.7 million

    Word for word“During the year ended December 31, 2019, we incurred legal and financial advisor fees of $7.7 million related to the above issues, which have been recorded as debt restructuring costs in the condensed consolidated statements of operations.” 10-K for 2019

Foresight Energy 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 Foresight Energy’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 2020-04-06. 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.