Altaba layoffs, on the record
Every job cut, severance charge and restructuring Altaba reported in its annual reports, 2014 to 2016, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2014 | approximately 12,500 | December 31, 2014 |
| 10-K for 2015 | approximately 10,400 full-time employees | As of December 31, 2015 |
| 10-K for 2016 | approximately 8,500 full-time employees and 600 contractors | As of December 31, 2016 |
Job cuts, severance and restructuring
Our summaryCompany recorded net restructuring charges tied to workforce reductions, data center and facility consolidation under various restructuring plans in 2014.
Word for word“In addition, in the year ended December 31, 2014, we recorded gains of approximately $98 million related to sales of patents, a gain on the Hortonworks warrants of $98 million, a goodwill impairment charge of $88 million, and net restructuring charges of $103 million related to our cost reduction initiatives.” 10-K for 2014
Our summaryCompany recorded 2014 severance charges related to restructuring plans initiated in 2014 as part of its location strategy, plus a data center consolidation charge tied to a 2011 plan.
Word for word“The amounts recorded during the year ended December 31, 2014 were primarily related to the consolidation of a data center as we ceased use of that facility pursuant to a restructuring plan we initiated in 2011 and severance charges related to restructuring plans that we initiated in 2014 as part of our location strategy and to align resources.” 10-K for 2014
Our summaryCompany reported a restructuring liability for severance and non-cancelable lease costs at year end 2014.
Word for word“The $84 million restructuring liability as of December 31, 2014 consists of $16 million for employee severance expenses, which we expect to pay out by the end of the third quarter of 2015, and $68 million related to non-cancelable lease costs, which we expect to pay over the terms of the related obligations through the fourth quarter of 2021, less estimated sublease income.” 10-K for 2014
Our summaryAnnounced plans to reduce the workforce by about 15 percent by the end of 2016 as part of a new strategic plan.
Word for word“In February 2016, we announced plans to reduce our workforce by approximately 15 percent by the end of 2016.” 10-K for 2015
Our summaryBegan notifying employees of the workforce reduction and planned exit of five offices in Dubai, Mexico City, Buenos Aires, Madrid and Milan, and later announced closing the Burbank, California office.
Word for word“On February 2, 2016, the Company announced that it had begun notifying employees about plans to reduce its workforce by approximately 15 percent by the end of 2016 and exit five offices in Dubai, Mexico City, Buenos Aires, Madrid and Milan subject to applicable laws and consultation processes as a part of the strategic plan to simplify Yahoo's product portfolio.” 10-K for 2015
Our summaryRecorded net restructuring charges under various plans, mainly employee severance and lease or contract termination costs, for workforce reductions and facility consolidation during 2015.
Word for word“Employee severance pay and related costs $ 12,337 $ 30,749 $ 69,042 Non-cancelable lease, contract termination, and other charges 15,822 79,317 36,526 Reversals of previous charges (24,940 ) (3,222 ) (7,404 ) Non-cash accelerations of stock-based compensation expense — — 2,705 Other non-cash charges (credits), net 547 (3,394 ) 3,150 Restructuring charges, net $ 3,766 $ 103,450 $ 104,019” 10-K for 2015
Our summaryRecorded 2015 restructuring liability of $66 million, of which $15 million was severance expected to be paid by mid-2017.
Word for word“The $66 million restructuring liability as of December 31, 2015 consists of $15 million for employee severance expenses, which we expect to pay out by the end of the second quarter of 2017, and $51 million related to non-cancelable lease costs, which we expect to pay over the terms of the related obligations through the fourth quarter of 2025, less estimated sublease income.” 10-K for 2015
Our summaryYahoo announced a plan to cut about 15 percent of its workforce by the end of 2016 and close six offices as part of simplifying its product portfolio.
Word for word“The amounts recorded during the year ended December 31, 2016 were primarily related to the Company’s plan announced in February 2016 to reduce its workforce by approximately 15 percent by the end of 2016 and exit six offices in Dubai, Mexico City, Buenos Aires, Madrid, Milan and Burbank, California, subject to applicable laws and consultation processes, as a part of the strategic plan to simplify the Company’s product portfolio.” 10-K for 2016
Our summaryYahoo recorded cash and non-cash charges in 2016 for severance, facility exits and stock compensation tied to the February 2016 restructuring plan.
Word for word“During the year ended December 31, 2016, in connection with this action, the Company incurred pre-tax cash charges of $47 million for severance pay expenses and related cash expenditures, pre-tax cash charges of $17 million related to the consolidation and exit of facilities related to non-cancelable lease costs and other related costs, pre-tax non-cash charges of $7 million related to stock-based compensation expense and less than $1 million related to impairment costs.” 10-K for 2016
Our summaryYahoo had a remaining restructuring liability at year end, mostly for lease costs, with a small amount for employee severance.
Word for word“The $43 million restructuring liability as of December 31, 2016 consisted of $3 million for employee severance expenses, which the Company expects to substantially pay out by the end of second quarter of 2017, and $40 million related to non-cancelable lease costs, which the Company expects to pay over the terms of the related obligations through the fourth quarter of 2025, less estimated sublease income.” 10-K for 2016
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2016-12-31 | $57.9 million | $88.6 million | $102.3 million |
Altaba filed 2 restructuring notices (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 Altaba’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 2017-03-01. 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.