Avianca Holdings layoffs, on the record
Every job cut, severance charge and restructuring Avianca Holdings reported in its annual reports, 2018 to 2020, quoted from the filings. Headcount went from 21,861 to 14,568.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 20-F for 2018 | 21,861 | December 31, 2018 |
| 20-F for 2019 | 20,874 | December 31, 2019 |
| 20-F for 2020 | 14,568 | December 31, 2020 |
Job cuts, severance and restructuring
Our summaryLATAM, a competitor, announced layoffs of 1,300 employees tied to outsourcing airport and handling services in Brazil; this is reported as a competitor event, not an Avianca action.
Word for word“During 2018, LATAM announced the layoff of 1,300 employees, due to the outsourcing of airport and handling services in Brazil.” 20-F for 2018
Our summaryInterjet, a competitor, announced that 550 employees will be laid off due to the redeployment of its Sukhoi fleet; this is reported as a competitor event, not an Avianca action.
Word for word“In addition, Interjet announced that 550 employees (10% of their workforce) will be laid off due to the redeployment of their Sukhoi fleet.” 20-F for 2018
Our summaryAvian, an Argentinian affiliate licensee of the Avianca trademark, recently initiated a preventative crisis procedure as a precursor to dismissing certain employees and reducing other employees' salaries; this is reported for a related party, not Avianca itself.
Word for word“In addition, Avian, an Argentinian airline that licenses the trademark Avianca from Aerovias del Continente Americano S.A. – Avianca, recently initiated a preventative crisis procedure as a precursor to dismissing certain employees and reducing the salaries of other employees.” 20-F for 2018
Our summaryCompensation was removed for some employees under the organizational restructuring plan called Avianca 2021, with an estimated cash outflow planned for 2020.
Word for word“Estimated cash outflow that is expected to be carried out in 2020 is for $12,750.” 20-F for 2019
Our summaryThe company cut its workforce through layoffs, terminations, early retirements and unpaid leaves during 2020.
Word for word“During 2020 we undertook a workforce reduction of approximately 4,740 employees, achieved through layoffs, terminations of employment, early retirements and unpaid leaves, from April 1 through December 31, 2020, most employees voluntarily accepted temporal reductions in salaries.” 20-F for 2020
Our summaryThe company reduced its administrative labor headcount.
Word for word“Administrative labor head count decreased by 1,303 employees.” 20-F for 2020
Our summaryThe company suspended hiring and introduced voluntary unpaid leave, which many employees took, as cost-saving measures during COVID-19.
Word for word“In addition to reducing capacity, in order to mitigate the effects of these developments, we implemented additional cost savings and liquidity preservation measures, including a suspension on hiring of new employees, implementation of voluntary unpaid leave of absence, which more than 14,000 employees have taken, and temporary deferral of labor contracts, non-essential expenses, capital expenditures, payments on long-term leases and payments of principal on certain financing obligations, as well as negotiations with key suppliers, strategic lenders and other creditors.” 20-F for 2020
Our summaryThe company filed for Chapter 11 reorganization to restructure its finances and operations.
Word for word“To protect and preserve the Group’s operations Avianca Holdings S.A. and certain of its affiliated entities filed voluntary petitions for chapter 11 relief under title 11 of the United States Code on May 10, 2020.” 20-F for 2020
Avianca Holdings 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 Avianca Holdings’s annual reports (20-F for 2020, 20-F for 2019, 20-F for 2018) and the financial data it files with the SEC, as of 2021-05-03. 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.