Blackhawk Network Holdings layoffs, on the record
Every job cut, severance charge and restructuring Blackhawk Network Holdings reported in its annual reports, 2016 to 2017, quoted from the filings. Headcount went from 2,331 to 3,190.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2016 | 2,331 | January 2, 2016 |
| 10-K for 2016 | 3,191 | December 31, 2016 |
| 10-K for 2017 | 3,190 | December 30, 2017 |
Job cuts, severance and restructuring
Our summaryThe company restructured its acquired incentive businesses (InteliSpend, Parago, Incentec) into Blackhawk Engagement Solutions; this is a business reorganization, not a workforce reduction.
Word for word“In January 2015, we moved to align certain of our incentive businesses acquired in 2013 and 2014 and drive synergies by restructuring them into Blackhawk Engagement Solutions, which provides software, services and prepaid products to business clients for their loyalty, incentive and reward programs.” 10-K for 2016
Our summaryTransition and acquisition expenses in 2016 included severance resulting from integration of acquisitions, among other costs, with no separate layoff amount stated.
Word for word“Transition and acquisition expenses include legal, tax, audit and valuation professional services related to acquisitions, severance resulting from integration of acquisitions and certain employment compensation payments that we recognize in our post combination financial statements.” 10-K for 2016
Our summaryThe company entered into a separation agreement with an executive, Christopher Crum, listed as an exhibit.
Word for word“10.48+ Separation Agreement, dated as of October 17, 2016, by and between Blackhawk Network, Inc. and Christopher Crum.” 10-K for 2016
Blackhawk Network 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 Blackhawk Network Holdings’s annual reports (10-K for 2017, 10-K for 2016, 10-K for 2016) and the financial data it files with the SEC, as of 2018-02-28. 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.