Southwestern Energy Plans Workforce Reduction
June 27 2018 - 9:20AM
Dow Jones News
By Colin Kellaher
Southwestern Energy Co. (SWN) on Wednesday said it is reducing
its workforce, resulting in a second-quarter pretax charge of $18
million to $19 million.
In a filing with the Securities and Exchange Commission, the
Spring, Texas, energy company said it expects the plan to be
substantially implemented during the third quarter.
Southwestern's filing didn't disclose the number of jobs being
cut, and a spokeswoman wasn't immediately available for
comment.
The company said it is offering affected employees a severance
package that includes a cash payment depending on length of service
and, if applicable, current value of a portion of equity awards
that will be forfeited.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 27, 2018 09:05 ET (13:05 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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