Hess layoffs, on the record
Every job cut, severance charge and restructuring Hess reported in its annual reports, 2022 to 2024, quoted from the filings. Headcount went from 1,623 to 1,797.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | 1,623 | December 31, 2022 |
| 10-K for 2023 | 1,756 | December 31, 2023 |
| 10-K for 2024 | 1,797 | December 31, 2024 |
Job cuts, severance and restructuring
Our summaryThe company recorded a pre-tax severance charge for employee termination benefits tied to cost reduction initiatives in its E&P segment.
Word for word“Severance costs: We recorded a pre-tax charge of $26 million ($26 million after income taxes) for employee termination benefits incurred related to cost reduction initiatives.” 10-K for 2022
Our summaryThe company recorded a pre-tax charge for employee termination benefits related to cost reduction initiatives in its Corporate, Interest and Other segment.
Word for word“Severance costs: We incurred a pre-tax charge of $1 million ($1 million after income taxes) for employee termination benefits related to cost reduction initiatives.” 10-K for 2022
| Fiscal year ended | Severance costs | Cash paid for restructuring |
|---|---|---|
| 2016-12-31 | $55 million | $2 million |
| 2017-12-31 | $18 million | $3 million |
| 2018-12-31 | $38 million | — |
| 2020-12-31 | $27 million | — |
Hess 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 Hess’s annual reports (10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2025-02-27. 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.