Atotech layoffs, on the record
Every job cut, severance charge and restructuring Atotech reported in its annual reports, 2020 to 2021, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 20-F for 2020 | 3,862 | December 31, 2020 |
Job cuts, severance and restructuring
Our summaryRestructuring expenses fell in 2020 because the prior-year restructuring costs in Germany were not repeated.
Word for word“This decrease reflects restructuring expenses of $10.8 million incurred in Germany in the prior year, which were not repeated for the year ended December 31, 2020.” 20-F for 2020
Our summaryRestructuring program in Germany, which was essentially consumed in 2020, was carried as a provision.
Word for word“The amount of $12.6 million in provision for other non-operating items as of Dec. 31, 2019 relates to a restructuring initiative in Germany, which was essentially consumed in 2020.” 20-F for 2020
Our summaryAssets held for sale were recorded from a restructuring program in India, mainly land and buildings.
Word for word“Assets held to sale relates to a restructuring program in India and mainly contains land and buildings.” 20-F for 2020
Our summaryThe company removes charges from restructuring activities, mainly from its cost reduction efforts, when it calculates its adjusted figures.
Word for word“Eliminates charges resulting from restructuring activities principally from the Group’s cost reduction efforts.” 20-F for 2021
Atotech 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 Atotech’s annual reports (20-F for 2021, 20-F for 2020) and the financial data it files with the SEC, as of 2022-04-11. 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.