Whiting Holdings layoffs, on the record
Every job cut, severance charge and restructuring Whiting Holdings reported in its annual reports, 2019 to 2021, quoted from the filings.
Job cuts, severance and restructuring
Our summaryExecuted a workforce reduction as part of an organizational redesign and cost reduction strategy.
Word for word“Restructuring On July 31, 2019, we executed a workforce reduction as part of an organizational redesign and cost reduction strategy to better align our business with the current operating environment and drive long-term value.” 10-K for 2019
Our summaryRecorded a one-time net restructuring charge for one-time employee termination benefits tied to the workforce reduction, included in general and administrative expenses.
Word for word“In connection with these activities, the Company incurred $ 8 million in net restructuring costs associated with one-time employee termination benefits.” 10-K for 2019
Our summaryReported lower headcount from the restructuring as a reason for a decrease in G&A reimbursements and allocations.
Word for word“The decrease in reimbursements and allocations in 2019 was primarily the result of lower headcount due to the restructuring as well as lower development activity during the fourth quarter of 2019.” 10-K for 2019
Our summaryExecuted a workforce reduction as part of an organizational redesign and cost reduction strategy, with a one-time net restructuring charge of $8 million recorded to general and administrative expenses.
Word for word“Restructuring During September 2020, we executed a workforce reduction as part of an organizational redesign and cost reduction strategy to better align our business with the current operating environment and drive long-term value.” 10-K for 2020
Our summaryExecuted workforce reductions in August 2019 and September 2020 as part of an organizational redesign and cost reduction strategy, with one-time net restructuring charges of $8 million each recorded to general and administrative expenses, tied to employee termination benefits.
Word for word“During September 2020 and August 2019, the Company executed workforce reductions as part of an organizational redesign and cost reduction strategy to better align its business with the current operating environment and drive long-term value.” 10-K for 2020
Whiting 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 Whiting Holdings’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 2022-02-23. 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.