U.s. Silica Holdings layoffs, on the record
Every job cut, severance charge and restructuring U.s. Silica Holdings reported in its annual reports, 2021 to 2023, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2021 | approximately 1,863 | December 31, 2021 |
| 10-K for 2022 | approximately 2,013 | December 31, 2022 |
| 10-K for 2023 | approximately 1,873 employees | December 31, 2023 |
Job cuts, severance and restructuring
Our summaryThe filing notes that closing a mine early could involve severance-related obligations as part of closure costs, but it reports no specific closure or layoff.
Word for word“The closure of an open pit mine may also involve significant fixed closure costs, including accelerated employment legacy costs, severance-related obligations, reclamation and other environmental costs and the costs of terminating long-term obligations, including energy contracts and equipment leases.” 10-K for 2021
Our summaryFacility closure costs in 2021 were reported as mainly related to idled sand facilities and closed corporate offices, including severance costs.
Word for word“(8) Reflects costs incurred mainly related to idled sand facilities and closed corporate offices, including severance costs and remaining contracted costs such as office lease costs, and common area maintenance fees.” 10-K for 2021
Our summaryIn 2020, other adjustments included severance costs of $6.0 million.
Word for word“For 2020, included $1.6 million in transload shortfalls and exit fees, $4.6 million in inventory adjustments, $6.0 million in severance costs, and $11.8 million in legal expense due to the unsuccessful defense of a small number of our patents, offset by $15.2 million related to the gain attributable to the bargain purchase of Arrows Up.” 10-K for 2021
Our summaryCompany recorded severance restructuring costs in 2022 as an adjustment within its Adjusted EBITDA reconciliation.
Word for word“The year ended December 31, 2022 also included costs related to weather events and supplier and logistical issues of $1.1 million, severance restructuring costs of $1.8 million, an adjustment to non-controlling interest of $0.6 million, partially offset by net proceeds of the sale of assets of $1.7 million and $2.9 million related to the gain on extinguishment of debt.” 10-K for 2022
Our summaryThe company recorded severance restructuring costs in 2023 as part of other adjustments to Adjusted EBITDA, along with other items.
Word for word“The year ended December 31, 2023 also included costs related to severance restructuring of $0.9 million, recruiting costs of $1.5 million, an adjustment to non-controlling interest of $0.4 million and $8.5 million related to the loss on extinguishment of debt, offset by an insurance recovery of $0.6 million and net proceeds of the sale of assets of $18.6 million.” 10-K for 2023
U.s. Silica Holdings 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 U.s. Silica Holdings’s annual reports (10-K for 2023, 10-K for 2022, 10-K for 2021) and the financial data it files with the SEC, as of 2024-02-27. 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.