Stratrix
On the Record · RPC

RPC layoffs, on the record

Every job cut, severance charge and restructuring RPC reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from 2,691 to 2,893.

Headcount, as reported

Annual reportEmployeesAs of
10-K for 20232,691December 31, 2023
10-K for 20242,597December 31, 2024
10-K for 20252,893December 31, 2025

Job cuts, severance and restructuring

  1. Our summaryThe company settled its Retirement Income Plan, a qualified pension plan, and recorded a settlement loss in 2023. 2023

    Word for word“Settlement loss ​ ​ 18,286 ​ ​ 2,921 ​ ​ — Net periodic benefit cost ​ $ 18,534 ​ $ 4,903 ​ $ 287 ​ 53 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS RPC, Inc. and Subsidiaries Years ended December 31, 2023, 2022 and 2021 ​ ​ The pre-tax amounts recognized in accumulated other comprehensive (loss) income for the years ended December 31, 2023, 2022 and 2021 are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 2022 2021 (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Net (loss) gain ​ $ ( 3,964 ) ​ $ 2,939 ​ $ 4,169 Amortization of net loss ​ ​ ( 226 ) ​ ​ ( 1,010 ) ​ ​ ( 808 ) Settlement loss ​ ​ ( 18,286 ) ​ ​ ( 2,921 ) ​ ​ — Amount recognized in accumulated other comprehensive (loss) income ​ $ ( 22,476 ) ​ $ ( 992 ) ​ $ 3,361 ​ The weighted average assumptions as of December 31 used to determine the projected benefit obligation and net benefit cost were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 2022 2021 Projected Benefit Obligation : ​ ​ ​ Discount rate ​ (1) ​ (1) ​ (1) ​ Rate of compensation increase N/A N/A N/A ​ Net Benefit Cost: ​ Discount rate N/A ​ 4.86 % 2.50 % Expected return on Plan assets N/A ​ 0.0 % 4.00 % Rate of compensation increase N/A N/A N/A ​ ​ (1) As of December 31, 2023, there was no liability in the plan and therefore, a discount rate does not apply.” 10-K for 2023

  2. Our summaryThe filing reports a pre-tax, non-cash pension settlement charge recorded in 2023 tied to accelerated recognition of net actuarial loss, and funds from Marine Products' plan assets were used to settle participant liabilities. during 2023 · Cost: $ 18.3 million

    Word for word“The Company recognized a pre-tax, non-cash settlement charge of $ 18.3 million during 2023 which represented the accelerated recognition of net actuarial loss that was previously recorded in accumulated other comprehensive loss (net of tax) and deferred taxes (tax effect).” 10-K for 2024
As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year endedSeverance costs
2019-12-31$5.7 million
2020-12-31$1.9 million

RPC 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 RPC’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-27. 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.