Market Overview

Southwestern Energy Details Workforce Reduction Plan

Share:

Shares of Southwestern Energy Company (NYSE: SWN) were trading higher by nearly 15 percent at $8.49 by mid-Thursday afternoon.

Southwestern Energy announced earlier in the day in an 8-K filing details of a workforce reduction plan which is expected to be implemented by the end of the first quarter. As part of the workforce reduction, the company will record a one-time cash severance payment of $45 to $50 million and $15 to $20 million related to the elimination of service requirements for equity awards to certain terminated employees.

Shares of Southwestern Energy have lost more than 65 percent over the past year.

Posted-In: News Intraday Update

 

Related Articles (SWN)

View Comments and Join the Discussion!

Jim Cramer Says These 6 Things Need To Happen Before The Market Can Bottom

Despite Tough Macros, Only Ultra, Gastar And Chesapeake Face Potential Credit Issues Before 2018