SemGroup layoffs, on the record
Every job cut, severance charge and restructuring SemGroup reported in its annual reports, 2016 to 2018, quoted from the filings. Headcount went from approximately 1,140 to approximately 880.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2016 | approximately 1,140 | December 31, 2016 |
| 10-K for 2017 | approximately 1,220 | December 31, 2017 |
| 10-K for 2018 | approximately 880 | At December 31, 2018 |
Job cuts, severance and restructuring
Our summaryThe filing says the company has historically removed severance and similar costs from its Adjusted EBITDA; the reconciliation lists employee severance expense for 2016, 2015 and 2014, but the amounts are not in the quoted sentence.
Word for word“Historically, we have selected items such as gains on the sale of NGL Energy common units, costs related to our predecessor’s bankruptcy, significant business development related costs, significant legal settlements, severance and other similar costs.” 10-K for 2016
SemGroup 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 SemGroup’s annual reports (10-K for 2018, 10-K for 2017, 10-K for 2016) and the financial data it files with the SEC, as of 2019-02-28. 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.