Sprague Resources layoffs, on the record
Every job cut, severance charge and restructuring Sprague Resources reported in its annual reports, 2019 to 2021, quoted from the filings.
Job cuts, severance and restructuring
Our summaryThe company has a general practice of paying severance to certain employees terminated without cause who sign a release; Vice President level and above get 12 months of base salary, 6 months of outplacement support, and 12 months of health and dental insurance.
Word for word“However, we have a general practice of paying severance to certain of our employees in the event they are terminated by us without cause and they enter into a release.” 10-K for 2021
Sprague Resources 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 Sprague Resources’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 2022-03-04. 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.