Atento layoffs, on the record
Every job cut, severance charge and restructuring Atento reported in its annual reports, 2020 to 2022, quoted from the filings. Headcount went from over 135,000 to over 127,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 20-F for 2021 | over 135,000 | — |
| 20-F for 2022 | over 127,000 | — |
Job cuts, severance and restructuring
Our summaryTermination benefits expense was recorded within employee benefit expenses, with a separate line for termination benefits; the filing does not describe a specific layoff program in this excerpt.
Word for word“e) Employee benefit expenses Details of amounts recognized under “Employee benefit expenses” during the years ended December 31, 2018, 2019 and 2020 are as follow: Thousands of U.S. dollars 2018 2019 2020 Employee benefit expenses Salaries and wages 1,024,094 946,752 788,297 Social security 130,161 120,353 101,911 Supplementary pension contributions 2,840 2,972 3,111 Termination benefits 26,510 36,065 24,262 Other welfare costs 181,576 194,889 142,827 Total 1,365,181 1,301,031 1,060,408 f) Depreciation and amortization The depreciation and amortization expenses for the years ended December 31, 2018, 2019 and 2020 are as follow: Thousands of U.S. dollars 2018 2019 2020 Depreciation and amortization Intangible assets (Note 6) 58,679 57,226 46,981 Property, plant and equipment (Note 10) 36,566 30,049 26,683 Right-of-use assets - 53,507 47,256 Total 95,245 140,782 120,920 g) Other operating expenses The breakdown of “Other operating expenses” for the years ended December 31, 2018, 2019 and 2020 is as follow: F- 63 Table of Contents” 20-F for 2020
Our summaryRestructuring costs were recorded in 2016 and 2017 for a restructuring program aimed at lowering variable labor costs and adjusting indirect costs; the program was finalized in Q4 2017.
Word for word“The restructuring program carried out in 2017 to adjust the indirect costs structure has been finalized in the fourth quarter of 2017.” 20-F for 2020
Our summarySite relocation of call centers from tier 1 to tier 2 cities in Brazil to achieve lower rental costs, attrition and absenteeism.
Word for word“Site relocation costs incurred for the year ended December 31, 2016 include costs associated with our strategic initiative to relocate call centers from tier 1 cities to tier 2 cities in Brazil to achieve efficiencies through lower rental costs, attrition and absenteeism.” 20-F for 2020
Our summaryThe company shut down five service delivery centers, mainly in Brazil and the Americas, as part of an operational restructuring to improve efficiency.
Word for word“Our number of workstations decreased from 87,382 as of December 31, 2021, to 78,371 as of December 31, 2022 due to volatility within our operations and shutdown of 5 service delivery centers mainly in Brazil and Americas.” 20-F for 2022
Our summaryThe company recorded one-time severance costs in EMEA tied to rationalizing a call center.
Word for word“Excluding the impact of foreign exchange, operating expenses in EMEA increased by 8.4% primarily due to one-time severance costs related to the rationalizing of a call center in this marke t .” 20-F for 2022
Atento 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 Atento’s annual reports (20-F for 2022, 20-F for 2021, 20-F for 2020) and the financial data it files with the SEC, as of 2023-11-29. 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.