Alere layoffs, on the record
Every job cut, severance charge and restructuring Alere reported in its annual reports, 2014 to 2016, quoted from the filings. Headcount went from approximately 9,800 to approximately 9,700.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2014 | approximately 9,800 | January 31, 2015 |
| 10-K for 2015 | approximately 9,200 | January 31, 2016 |
| 10-K for 2016 | approximately 9,700 | As of December 31, 2016 |
Job cuts, severance and restructuring
Our summaryReduced headcount to eliminate redundancies arising from the company's historic pattern of acquisitions.
Word for word“During this period, we reduced headcount to eliminate redundancies arising from our historic pattern of acquisitions.” 10-K for 2014
Our summaryRestructured the research and development organization by closing or beginning to close several facilities in the United Kingdom and concentrating R&D on core projects.
Word for word“We also restructured our research and development organization by closing or beginning the process of closing several facilities in the United Kingdom and concentrating our research and development activities on core projects which resulted in additional savings.” 10-K for 2014
Our summaryAdopted 2014 world-wide cost reduction plans affecting sales and marketing, information technology and R&D groups and closed certain business locations in Europe and Asia.
Word for word“In 2014, management developed world-wide cost reduction plans to reduce costs and improve operational efficiencies within our professional diagnostics, patient self-testing and corporate and other business segments, primarily impacting our global sales and marketing, information technology, and research and development groups, as well as closing certain business locations in Europe and Asia.” 10-K for 2014
Our summaryExpects further costs under the 2014 plans, including closure of a facility in Israel and several European locations.
Word for word“We anticipate incurring approximately $14.0 million in additional costs under our 2014 restructuring plans related to our professional diagnostics business segment, including in connection with the closure of our facility in Israel and several locations in Europe.” 10-K for 2014
Our summaryRecorded 2014 and 2013 restructuring charges in cost of net revenue, including severance, facility and impairment costs.
Word for word“Reducing gross profit for 2014 and 2013 was $11.8 million and $6.1 million, respectively, in restructuring charges, which included $7.0 million in fixed asset and inventory impairments, $3.3 million of severance-related costs and $1.5 million in facility and transition costs for 2014, and $2.5 million of severance-related costs, $2.3 million in facility and transition costs and $1.3 million in fixed asset, intangible asset and inventory impairments for 2013.” 10-K for 2014
Our summaryRecorded restructuring charges in sales and marketing expense under plans to reduce expenses and further integrate businesses.
Word for word“Restructuring charges associated with our various restructuring plans to reduce expenses and further integrate our businesses totaling $11.4 million and $1.6 million were included in sales and marketing expense for 2014 and 2013, respectively.” 10-K for 2014
Our summaryAdopted 2013 cost reduction plans in the professional diagnostics and patient self-testing segments across U.S., Europe and Asia Pacific.
Word for word“In 2013, management developed cost reduction plans within our professional diagnostics business and patient self-testing business segments, impacting businesses in our U.S., Europe and Asia Pacific regions.” 10-K for 2014
Our summaryRecorded restructuring charges within cost of net revenue in 2015 and 2014.
Word for word“Cost of net revenue also included restructuring charges of $3.8 million and $11.8 million for 2015 and 2014, respectively.” 10-K for 2015
Our summaryRecorded restructuring charges within research and development expense under plans to integrate its businesses.
Word for word“Restructuring charges associated with our various restructuring plans to integrate our businesses totaling $2.8 million and $9.8 million were included in research and development expense during 2015 and 2014, respectively.” 10-K for 2015
Our summaryRecorded restructuring charges within sales and marketing expense under plans to reduce expenses and integrate businesses.
Word for word“Restructuring charges associated with our various restructuring plans to reduce expenses and further integrate our businesses totaling $3.0 million and $11.4 million were included in sales and marketing expense for 2015 and 2014, respectively, which reflects a decrease of $8.4 million.” 10-K for 2015
Our summaryReduced workforce-related costs through cost reduction initiatives, lowering research and development, sales and marketing, and general and administrative expense.
Word for word“The decrease was primarily attributable to an $8.8 million reduction in workforce-related costs and an $8.1 million reduction in supplies expense, both as a result of our cost reduction initiatives, a $7.8 million favorable impact of foreign exchange rates and a $7.0 million reduction in restructuring expense, partially offset by a $6.5 million increase in amortization expense.” 10-K for 2015
Our summaryClosed a business; recorded impairment charges consisting primarily of severance costs, inventory write-offs and other closure-related expenses.
Word for word“During 2015, in connection with this decision, we recorded impairment charges of $1.1 million, consisting primarily of severance costs, inventory write-offs and other closure-related expenses.” 10-K for 2015
Our summaryRecorded quarterly restructuring charges during 2015.
Word for word“Included in net loss from continuing operations for the third quarter of 2015 is $2.3 million of restructuring charges, $1.9 million of costs associated with potential business dispositions, $2.1 million in impairment and (gain) loss on dispositions, net, $8.9 million of incremental interest expense and amortization of deferred financing costs related to the debt refinancing.” 10-K for 2015
Our summaryPaid a former CFO a severance package under a severance agreement after his resignation.
Word for word“Under the severance agreement, and in recognition of his years of service to us, Mr. Teitel received a lump-sum cash payment equal to twelve months of base salary and acceleration of the vesting of 10,000 RSUs.” 10-K for 2015
Our summaryThe company recorded restructuring charges in the first quarter of 2016.
Word for word“(2) Included in net loss from continuing operations for the first quarter of 2016 are restructuring charges of $7.7 million, $0.8 million of costs associated with business dispositions, $0.5 million of acquisition-related costs, and $0.1 million of expense recorded for fair value adjustments to acquisition-related contingent consideration, offset by a $3.8 million gain on dispositions.” 10-K for 2016
Our summaryThe company recorded restructuring charges in the fourth quarter of 2016.
Word for word“(5) Included in net loss from continuing operations for the fourth quarter of 2016 are $75.0 million of additional valuation allowance due to uncertainties related to the future benefits and realization of our U.S. federal and state net deferred tax assets, $14.3 million of additional legal settlement accruals associated with an ongoing Office of Inspector General investigation, and restructuring charges of $10.1 million, offset by a $1.4 million net benefit from the net decrease in the fair value of acquisition-related contingent consideration.” 10-K for 2016
Our summaryGeneral and administrative expense rose in 2016, partly because of charges from the company's restructuring plans.
Word for word“The increase was primarily attributable to $60.3 million of expenses related to the pending merger with Abbott, $38.2 million in legal and consulting fees related to certain government investigations, a $35.0 million accrual in connection with an on-going governmental investigation that commenced in May 2012 when we received a subpoena from the OIG, and $20.0 million in charges associated with our various restructuring plans.” 10-K for 2016
| Fiscal year ended | Restructuring charges | Restructuring costs incurred |
|---|---|---|
| 2016-12-31 | $37.9 million | $37.9 million |
Alere has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Alere’s annual reports (10-K for 2016, 10-K for 2015, 10-K for 2014) and the financial data it files with the SEC, as of 2017-06-05. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.