Williams Partners layoffs, on the record
Every job cut, severance charge and restructuring Williams Partners reported in its annual reports, 2015 to 2017, quoted from the filings. Headcount went from approximately 6,578 to approximately 5,425.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2015 | approximately 6,578 | February 1, 2016 |
| 10-K for 2016 | approximately 5,604 | February 1, 2017 |
| 10-K for 2017 | approximately 5,425 | At February 1, 2018 |
Job cuts, severance and restructuring
Our summaryWorkforce reductions in the first quarter of 2016 lowered labor-related and outside service costs, with first-quarter severance recorded in the Other segment.
Word for word“and $8 million was incurred in first-quarter 2016 for severance and related costs associated with workforce reductions.” 10-K for 2016
Our summaryRecognized severance and related costs in operating and maintenance expenses and SG&A in 2016.
Word for word“These decreases are partially offset by $16 million of severance and related costs recognized in 2016 and higher pipeline testing and general maintenance costs at Transco.” 10-K for 2016
Our summaryReported total 2016 severance and other related costs, split by segment (Central, Northeast G&P, Atlantic-Gulf, West, NGL & Petchem Services, Other).
Word for word“Selling, general, and administrative expenses and Operating and maintenance expenses include $37 million in 2016 of severance and other related costs.” 10-K for 2016
Our summaryInternal business restructuring: reduced five operating areas to three, closed the Oklahoma City office and consolidated employee positions to Tulsa or other locations.
Word for word“In addition, as part of an internal restructuring, we recently announced the reduction of five operating areas into three and the closing of our Oklahoma City office and the consolidation of employee positions to Tulsa or other locations.” 10-K for 2016
Our summaryThe company recorded severance and related costs in the first quarter of 2016 tied to workforce reductions in its Other segment.
Word for word“AFUDC also changed unfavorably by $11 million primarily associated with a decrease in spending on Constitution, and $8 million was incurred in first-quarter 2016 for severance and related costs associated with workforce reductions.” 10-K for 2017
Our summaryThe company cut operating and maintenance costs after its first-quarter 2016 workforce reductions, and it recorded severance and related costs in 2016.
Word for word“Operating and maintenance expenses decreased primarily due to lower labor-related and outside service costs resulting from our first-quarter 2016 workforce reductions and cost containment efforts, lower costs associated with general maintenance activities in the Marcellus Shale, as well as the absence of ACMP transition-related costs recognized in 2015.” 10-K for 2017
Our summarySelling, general and administrative expenses fell because of the 2016 workforce reductions, partly offset by higher 2017 severance and organizational realignment costs and a pension early payout settlement charge.
Word for word“Selling, general, and administrative expenses (SG&A) decreased primarily due to the absence of costs associated with our former Canadian and Gulf Olefins operations, lower labor-related costs resulting from our workforce reductions that occurred late in first-quarter 2016, and ongoing cost containment efforts.” 10-K for 2017
Williams Partners 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 Williams Partners’s annual reports (10-K for 2017, 10-K for 2016, 10-K for 2015) and the financial data it files with the SEC, as of 2018-02-22. 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.