South Jersey Industries layoffs, on the record
Every job cut, severance charge and restructuring South Jersey Industries reported in its annual reports, 2019 to 2021, quoted from the filings. Headcount went from approximately 1,100 to 1,173.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2019 | approximately 1,100 | December 31, 2019 |
| 10-K for 2020 | 1,130 | December 31, 2020 |
| 10-K for 2021 | 1,173 | December 31, 2021 |
Job cuts, severance and restructuring
Our summarySJI incurred severance and other employee separation costs during 2019, recorded in the Corporate & Services segment.
Word for word“SJI incurred $3.1 million of severance and other employee separation costs during 2019.” 10-K for 2019
Our summarySJI offered an early retirement incentive program (ERIP) whose costs were recorded in 2018; most employees who accepted it retired in 2019.
Word for word“Total cost to the Company for the ERIP was $ 13.4 million, of which $ 8.3 million was included in Operations Expense on the consolidated statements of income as of December 31, 2018, and $ 5.1 million was related to employees of SJG and recorded as a Regulatory Asset on the consolidated balance sheets as of December 31, 2018.” 10-K for 2019
Our summaryCompany incurred severance and other employee separation costs, which were $2.5 million lower in 2020 than in 2019.
Word for word“SJI incurred $2.5 million less severance and other employee separation costs during 2020 compared to 2019.” 10-K for 2020
Our summaryCompany ceased operations at three landfill gas-to-energy production facilities, with related costs recorded in severance and separation items.
Word for word“(9) Represents severance and other employee separation costs, along with costs incurred to cease operations at three landfill gas-to-energy production facilities.” 10-K for 2020
Our summaryThe company recorded severance and other employee separation costs, plus costs to cease operations at landfill gas-to-energy production facilities including ACLE, in 2021, 2020 and 2019.
Word for word“For 2021, 2020 and 2019, represents severance and other employee separation costs, along with costs incurred to cease operations at landfill gas-to-energy production facilities, including ACLE in 2021.” 10-K for 2021
Our summaryCorporate & Services operations and maintenance expense fell in 2021 versus 2020, mainly because severance and other employee separation costs were lower.
Word for word“The Corporate & Services segment had a $4.7 million decrease in Operations and Maintenance Expense in 2021 compared with 2020, primarily due to lower severance and other employee separation costs, lower acquisition costs, and intercompany eliminations.” 10-K for 2021
South Jersey Industries 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 South Jersey Industries’s annual reports (10-K for 2021, 10-K for 2020, 10-K for 2019) and the financial data it files with the SEC, as of 2022-02-24. 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.