EQT Says Committed To Reduction In Workforce; To Result In 15% Reduction In Employee Workforce And Includes Termination Of Former Executive Officers And Certain Other Senior Employees Of Equitrans
Portfolio Pulse from Benzinga Newsdesk
EQT Corporation plans a 15% workforce reduction, including termination of former executive officers and senior employees of Equitrans. This will result in pre-tax charges of $165M-$185M, with most recorded in Q3 2024. The move aims to cut $80M in annualized costs.
October 01, 2024 | 8:19 pm
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EQT Corporation is reducing its workforce by 15%, including former executive officers and senior employees of Equitrans. This will incur pre-tax charges of $165M-$185M, with most costs recorded in Q3 2024. The plan aims to save $80M in annualized costs.
The workforce reduction is a significant cost-cutting measure, expected to save $80M annually. While there are upfront charges, the long-term savings could positively impact EQT's financials, potentially boosting investor confidence and stock price.
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