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.
迄今為止，QES採取了以下行動，以減少其成本結構和保護其資產負債表：
- CEO自願減薪20%；
- 預計所有高管現金薪酬將減少30%至40%，包括自願減薪10%至20%；
- 減少現金委員會的補償；
- 減少總體運營費用、間接費用和其他可變成本，以與目前的業務活動水平保持一致，包括在第一季度有效減少大約20%；
- 將分段補償減少20%；
- 計劃開始休假計劃，以減少成本與活動的平衡；
- 與供應商合作，降低所有產品和服務的成本；
- 執行根據“關愛法”向我們提供的所有可用費用削減和延期；
- 與出租人談判，以減少和推遲固定成本租賃義務；
- 空置了三個額外的地點，而且都是活躍的框架差；以及
- 將2020年資本支出指南更新為1，000萬至1，500萬美元，這反映了所有非必要資本支出的減少，並比先前指導範圍的中點減少了50%。
