Babylon Holdings layoffs, on the record
Every job cut, severance charge and restructuring Babylon Holdings reported in its annual reports, 2021 to 2022, quoted from the filings. Headcount went from 2,573 to approximately 1,895.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 20-F for 2021 | 2,573 | For the year ended December 31, 2021 |
| 10-K for 2022 | approximately 1,895 | December 31, 2022 |
Job cuts, severance and restructuring
Our summaryThe company took cost-reduction actions in the second half of 2022 that raised severance and termination costs within employee benefits expense.
Word for word“The increase of employee benefits expense is primarily due to a $11.1 million increase for severance and termination costs associated with our cost-reduction actions initiated in the third and fourth quarter of 2022.” 10-K for 2022
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2022-12-31 | $20.1 million | $10.8 million |
Babylon 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 Babylon Holdings’s annual reports (10-K for 2022, 20-F for 2021) and the financial data it files with the SEC, as of 2023-03-16. 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.