ARD Finance layoffs, on the record
Every job cut, severance charge and restructuring ARD Finance reported in its annual reports, 2017 to 2018, quoted from the filings. Headcount went from approximately 23,500 to approximately 23,400.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 20-F for 2017 | approximately 23,500 | December 31, 2017 |
| 20-F for 2018 | approximately 23,400 | As of December 31, 2018 |
Job cuts, severance and restructuring
Our summaryRestructuring costs were recorded as exceptional items, including capacity realignment and restructuring costs in Metal Packaging Europe.
Word for word“· €32 million relating to capacity realignment and restructuring costs in Metal Packaging Europe.” 20-F for 2017
Our summaryPlant, property and equipment impairment charges arose principally from capacity realignment in Glass Packaging North America and Metal Packaging Europe.
Word for word“· €46 million property, plant and equipment impairment charges arising principally from capacity realignment in Glass Packaging North America and Metal Packaging Europe.” 20-F for 2017
Our summaryExceptional restructuring costs were paid in cash during the year.
Word for word“Exceptional restructuring costs paid in the year ended December 31, 2017 decreased by €1 million to €9 million compared to €10 million in the year ended December 31, 2016.” 20-F for 2017
Our summaryRestructuring provision for redundancy and other restructuring costs was recorded and partly paid during 2017, with the majority expected to be paid in 2018.
Word for word“The majority of the restructuring provision is expected to be paid in 2018.” 20-F for 2017
Our summaryThe company recorded restructuring, start-up and impairment charges under its capacity realignment programs in 2018, mainly in Glass Packaging North America.
Word for word“$116 million related to the Group’s capacity realignment programs, including restructuring costs ($57 million), start-up related costs ($48 million) and property, plant and equipment impairment charges ($11 million).” 20-F for 2018
Our summaryThe company recorded restructuring and other costs under its capacity realignment programs in 2017.
Word for word“$100 million related to the Group’s capacity realignment programs, including restructuring costs ($38 million), start-up related costs ($8 million) and property, plant and equipment impairment charges ($54 million).” 20-F for 2018
Our summaryThe company reported that its restructuring provision covers redundancy and other restructuring costs, with most of it expected to be paid in 2019.
Word for word“The majority of the restructuring provision is expected to be paid in 2019.” 20-F for 2018
ARD Finance 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 ARD Finance’s annual reports (20-F for 2018, 20-F for 2017) and the financial data it files with the SEC, as of 2019-03-01. 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.