Year to date, QES has taken the following actions to reduce its cost structure and protect its balance sheet:
- CEO voluntary base salary reduction of 20%;
- Expect all-in executive cash compensation to reduce by 30% to 40%, including voluntary salary reductions of 10% to 20%;
- Reducing cash Board compensation;
- Reducing overall operating expenses, overhead and other variable costs to align with the current business activity levels, including an approximate 20% reduction in force in Q1;
- Reducing segment compensation by up to 20%;
- Plan to begin a furlough program to minimize cost in balance with activity;
- Working with vendors to reduce costs for all products and services;
- Implementing all available cost reductions and deferrals afforded to us under the CARES Act;
- Negotiating with lessors to reduce and defer fixed cost lease obligations;
- Idled three additional locations and both active frac spreads; and
- Updating guidance for 2020 capital spending to $10 to $15 million, which reflects reductions in all non-essential capital spending and a 50% decrease from the mid-point of range of prior guidance.
迄今为止，QES采取了以下行动，以减少其成本结构和保护其资产负债表：
- CEO自愿减薪20%；
- 预计所有高管现金薪酬将减少30%至40%，包括自愿减薪10%至20%；
- 减少现金委员会的补偿；
- 减少总体运营费用、间接费用和其他可变成本，以与目前的业务活动水平保持一致，包括在第一季度有效减少大约20%；
- 将分段补偿减少20%；
- 计划开始休假计划，以减少成本与活动的平衡；
- 与供应商合作，降低所有产品和服务的成本；
- 执行根据“关爱法”向我们提供的所有可用费用削减和延期；
- 与出租人谈判，以减少和推迟固定成本租赁义务；
- 空置了三个额外的地点，而且都是活跃的框架差；以及
- 将2020年资本支出指南更新为1，000万至1，500万美元，这反映了所有非必要资本支出的减少，并比先前指导范围的中点减少了50%。
