Alexion Pharmaceuticals layoffs, on the record
Every job cut, severance charge and restructuring Alexion Pharmaceuticals reported in its annual reports, 2018 to 2020, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2018 | 2,656 | As of December 31, 2018 |
Job cuts, severance and restructuring
Our summaryCompany-wide restructuring begun in the first quarter of 2017, mainly a global workforce reduction, with an operational plan committed in September 2017 that cut the global workforce by about 20.0%.
Word for word“The 2017 restructuring plan reduced the Company's global workforce by approximately 20.0%.” 10-K for 2018
Our summaryRelocation of corporate headquarters from New Haven, Connecticut to Boston, Massachusetts, with employee separation costs tied to corporate employees not relocating.
Word for word“The charges for the year ended 2018 were mainly attributable to the relocation of our corporate headquarters from New Haven, Connecticut to Boston, Massachusetts and other related costs and the charges for the year ended 2017 were mainly attributable to employee separation costs in connection with the 2017 restructuring (as described below).” 10-K for 2018
Our summaryNew corporate restructuring to re-align the global organization, reduce costs and realize operational efficiencies, including a shift in some jurisdictions from direct sales to third parties.
Word for word“We expect to incur estimated expenses up to $25.0 associated with this recent restructuring by the end of 2019.” 10-K for 2018
Our summaryTotal restructuring-related charges recorded in 2017 across cost of sales, R&D, SG&A and restructuring expense, including employee separation costs and asset-related charges.
Word for word“The following table summarizes the total expenses recorded related to the restructuring activities by type of activity and the locations recognized within the consolidated statements of operations: December 31, 2018 December 31, 2017 December 31, 2016 Employee Separation Costs Asset-Related Charges Other Total Employee Separation Costs Asset-Related Charges Other Total Employee Separation Costs Asset-Related Charges Other Total Cost of Sales $ — $ 5.8 $ — $ 5.8 $ — $ 152.1 $ — $ 152.1 $ — $ — $ — $ — Research and Development — 0.1 — 0.1 — 16.3 — 16.3 — — — — Selling , General and Administrative — 19.4 — 19.4 — 10.9 — 10.9 — — — — Restructuring Expense 4.6 — 20.9 25.5 87.3 — 17.3 104.6 3.0 — 3.0 Other expense — — (0.1 ) (0.1 ) — — 2.6 2.6 — — — — $ 4.6 $ 25.3 $ 20.8 $ 50.7 $ 87.3 $ 179.3 $ 19.9 $ 286.5 $ 3.0 $ — $ — $ 3.0 Employee separation costs are associated with headcount reductions, as well as corporate employees not relocating to the Company's headquarters in 2018.” 10-K for 2018
Our summaryDecrease in payroll and benefits in R&D attributed to headcount reductions from restructuring started in 2017.
Word for word“Decrease of $26.0 in payroll and benefits primarily related to headcount reductions resulting from restructuring activities initiated in 2017.” 10-K for 2018
| Fiscal year ended | Restructuring charges | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|---|
| 2016-12-31 | $3 million | $2.8 million | $9.7 million |
| 2017-12-31 | $286.5 million | $287.4 million | $49.6 million |
| 2018-12-31 | $50.7 million | $52.2 million | $79.4 million |
| 2019-12-31 | $12 million | $17.2 million | $9.4 million |
| 2020-12-31 | $10.3 million | $16.7 million | $8.9 million |
Alexion Pharmaceuticals filed 1 restructuring notice (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Alexion Pharmaceuticals’s annual reports (10-K for 2020, 10-K for 2019, 10-K for 2018) and the financial data it files with the SEC, as of 2021-02-08. 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.