Geospace Technologies Cuts Workforce by 20%

Dow Jones

Apr 07

By Katherine Hamilton

Geospace Technologies has cut its global workforce by about 20%.

The manufacturer, which makes equipment for the oil and gas industry, said Monday the cuts were part of an evaluation of ways to operate more efficiently and profitably.

Geospace had 519 employees as of the end of September 2025, according to its latest annual filing.

Geospace expects the job cuts, along with other cost-cutting measures, are expected to produce about $10 million annual savings.

Its executive team implemented the organizational change, which resulted in the workforce reduction, at the end of the second quarter of 2026.

In connection with the job eliminations, Geospace anticipates $600,000 in termination costs in the fiscal second quarter and $700,000 in the fiscal third quarter. The charges are mostly related to employee transition, severance and benefits payments.

The Houston-based company has faced challenges, recording lower sales in several recent quarters. Leadership has cited macroeconomic volatility related to tariffs and inflation as the reason for lower-than-expected results.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

April 06, 2026 17:16 ET (21:16 GMT)

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