Ocean Rig UDW layoffs, on the record
Every job cut, severance charge and restructuring Ocean Rig UDW reported in its annual reports, 2015 to 2017, quoted from the filings. Headcount went from 1,367 to approximately 1,160.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 20-F for 2016 | 1,367 | December 31, 2016 |
| 20-F for 2017 | approximately 1,160 | December 31, 2017 |
Job cuts, severance and restructuring
Our summaryThe company completed a financial restructuring of its balance sheet and recorded restructuring charges for the year.
Word for word“As a result of the restructuring, a total of $99.1 million in restructuring charges has been recorded in the fiscal year ended December 31, 2017.” 20-F for 2017
Ocean Rig UDW 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 Ocean Rig UDW’s annual reports (20-F for 2017, 20-F for 2016, 20-F for 2015) and the financial data it files with the SEC, as of 2018-03-15. 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.