Cactus Announces Business Update
Cactus, Inc. Class A (WHD)
Last cactus, inc. class a earnings: 4/29 05:10 pm
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Source: Business Wire
HOUSTON--(BUSINESS WIRE)--Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) today announced that as part of the Company’s comprehensive response to the weakened macroeconomic environment, Cactus reduced its total U.S. associate headcount by approximately 30% effective April 1st in anticipation of the activity declines expected by early in the second quarter. Cactus also implemented large-scale salary reductions for its workforce beginning in March, inclusive of a 50% reduction to the CEO’s base salary, and salary reductions ranging from 25% to 50% for its other named executive officers. Board Member remuneration has also been reduced by 25%.As a result of the abovementioned cost rationalization efforts, Cactus will record approximately $1 million in non-routine charges primarily related to severance benefits as of March 31st. These salary and headcount reductions are estimated to result in approximately $35 million of annualized cost savings, $5 million of which are associated
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WHD
Earnings
- 2/28/24 - Beat
WHD
Sec Filings
- 4/16/24 - Form 144
- 4/8/24 - Form 4
- 4/8/24 - Form 4
- WHD's page on the SEC website