Azek layoffs, on the record
Every job cut, severance charge and restructuring Azek reported in its annual reports, 2022 to 2024, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | 2,182 full-time employees | September 30, 2022 |
| 10-K for 2023 | 2,236 | September 30, 2023 |
| 10-K for 2024 | 2,276 full-time employees | September 30, 2024 |
Job cuts, severance and restructuring
Our summaryThe company recorded reduction in workforce costs that it excluded from Adjusted Net Income as other costs.
Word for word“( 4 ) Other costs include reduction in workforce costs of $0.5 million and $0.1 million for fiscal years 2022 and 2020, respectively and impact of retroactive adoption of ASC 842 leases of $0.1 million for fiscal year 2021.” 10-K for 2022
Our summaryThe company recorded reduction in workforce costs, reported within other costs in the adjusted net income reconciliation for fiscal 2023.
Word for word“(3) Other costs reflect reduction in workforce costs of $0.5 million and $1.6 million for fiscal years 2023 and 2022, respectively, costs for legal expenses of $0.3 million, $0.9 million and $2.3 million for fiscal years 2023, 2022 and 2021, respectively, other costs of $0.2 million for fiscal year 2022, costs related to an incentive plan and other ancillary expenses associated with the initial public offering of $0.1 million and $2.4 million for fiscal years 2022 and 2021, respectively, and impact of the retroactive adoption of ASC 842 leases of $0.5 million for fiscal year 2021.” 10-K for 2023
Our summaryThe company recorded reduction in workforce costs, reported within other costs in the adjusted net income reconciliation for fiscal 2022.
Word for word“(4) Other costs reflect reduction in workforce costs of $0.5 million and $1.6 million for fiscal years 2023 and 2022, respectively, costs for legal expenses of $0.3 million, $0.9 million and $2.3 million for fiscal years 2023, 2022 and 2021, respectively, other costs of $0.2 million for fiscal year 2022, costs related to an incentive plan and other ancillary expenses associated with the initial public offering of $0.1 million and $2.4 million for fiscal years 2022 and 2021, respectively, and impact of the retroactive adoption of ASC 842 leases of $0.5 million for fiscal year 2021.” 10-K for 2023
Our summaryThe company recorded costs for workforce reductions in fiscal years 2024, 2023 and 2022, reported within other costs in its adjusted results.
Word for word“(5) Other costs reflect costs related to the Restatement of $5.9 million for fiscal year 2024, costs related to removal of dispensable equipment resulting from a modification of the Company's manufacturing process of $2.4 million for fiscal year 2024, reduction in workforce costs of $0.3 million, $0.5 million and $1.6 million for fiscal years 2024, 2023 and 2022, respectively, costs for legal expenses of $1.8 million, $0.3 million and $0.9 million for fiscal years 2024, 2023 and 2022, respectively, other costs of $0.7 million and $0.2 million for fiscal years 2024 and 2022, costs related to an incentive plan and other ancillary expenses associated with the initial public offering of $0.1 million for fiscal year 2022.” 10-K for 2024
| Fiscal year ended | Restructuring charges |
|---|---|
| 2018-09-30 | $5.8 million |
| 2019-09-30 | $16.6 million |
| 2020-09-30 | $594,000 |
Azek 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 Azek’s annual reports (10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2024-11-20. 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.