Daily Labor Report®

NextDecade Says It Has Liquidity Through 2021 After Job Cuts

May 18, 2020, 11:19 AM

NextDecade Corp., which is developing a multibillion-dollar liquefied natural gas export terminal in Texas, said staff reductions and a voluntary 10% pay cut for the CEO and other executives will help give the company enough liquidity to sustain development activities through 2021.

Full-time headcount has been decreased by 18% this year, and this month NextDecade furloughed 14% of full-time workers until it has better clarity on the Covid-19 pandemic’s impact on the LNG market, the company said in a statement Monday.

NextDecade said the pandemic is “affecting current liquefied natural gas market conditions” and a final investment decision for its...

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