BON TON Stores layoffs, on the record
Every job cut, severance charge and restructuring BON TON Stores reported in its annual reports, 2015 to 2017, quoted from the filings.
Job cuts, severance and restructuring
Our summaryThe company reported that SG&A expense decreased in 2015, partly offset by severance costs.
Word for word“SG&A expense decreased to $905.7 million in 2015 as compared with $907.0 million in 2014.” 10-K for 2016
Our summaryThe company cut SG&A expense in 2016 through cost savings initiatives, which brought related severance costs and consulting fees that partly offset the savings.
Word for word“The $25.0 million decrease was largely driven by cost savings initiatives implemented throughout the year, partially offset by related severance costs and consulting fees, as well as higher medical claims and increased marketing expenditures.” 10-K for 2017
Our summaryThe company held down SG&A expense in 2015 with expense control measures, and severance costs partly offset the decrease.
Word for word“The decrease was largely due to expense control measures implemented during the year, partially offset by severance costs, increased marketing expenditures and investment in information technology services and omnichannel operations.” 10-K for 2017
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2017-01-28 | $2.5 million | $5.3 million |
BON TON Stores 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 BON TON Stores’s annual reports (10-K for 2017, 10-K for 2016, 10-K for 2015) and the financial data it files with the SEC, as of 2017-04-12. 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.