Briggs & Stratton layoffs, on the record
Every job cut, severance charge and restructuring Briggs & Stratton reported in its annual reports, 2017 to 2019, quoted from the filings. Headcount went from 5,300 to 5,200.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2017 | 5,300 | — |
| 10-K for 2018 | 5,185 | YEAR-END |
| 10-K for 2019 | 5,200 | — |
Job cuts, severance and restructuring
Our summaryCompany completed restructuring actions announced in fiscal 2015, which narrowed its lower-priced Snapper consumer lawn and garden line and consolidated Products segment manufacturing facilities.
Word for word“As of July 3, 2016, the cumulative pre-tax restructuring costs associated with the 2015 restructuring actions were $36.1 million , which represented the total cost expected to be incurred under these restructuring actions.” 10-K for 2017
Our summaryCompany implemented restructuring actions in the Engines segment, including a headcount reduction at its Chongqing, China plant and changes in salaried personnel in the United States.
Word for word“These actions, which were completed in the first quarter of fiscal 2016, included a headcount reduction at its plant in Chongqing, China to offset lower production of engines used on snow throwers as well as changes in salaried personnel in the United States.” 10-K for 2017
Our summaryCompany recorded pre-tax restructuring charges in fiscal 2016, including Products segment charges.
Word for word“The Company recorded pre-tax charges of $10.2 million ( $6.7 million after tax or $0.15 per diluted share) during fiscal 2016 related to restructuring actions.” 10-K for 2017
Our summaryCompany disclosed a business optimization program with expected savings and expenses, with most expense expected in fiscal 2018.
Word for word“Total pre-tax expenses related to the business optimization program are expected to be approximately $50 million to $55 million, of which $24 million to $28 million is expected be recognized in fiscal 2018.” 10-K for 2017
Our summaryCompany recorded fiscal 2015 restructuring charges in its Products segment and consolidated statement of operations.
Word for word“For the fiscal year ended June 28, 2015, includes pre-tax restructuring charges of $27,288 ($17,749 after tax) and pre-tax acquisition-related charges of $2,115 ($1,374 after tax).” 10-K for 2017
Our summaryThe company launched a business optimization program, projected to save $30 million to $35 million a year pre-tax from fiscal 2019 over three years.
Word for word“The business optimization program is projected to generate $30 million to $35 million of ongoing future annual pre-tax savings, in addition to supporting profitable commercial growth.” 10-K for 2018
Our summaryThe company recorded restructuring charges related to restructuring actions in fiscal 2016.
Word for word“During fiscal 2016 the Company recorded pre-tax charges of $10.2 million ( $6.7 million after tax or $0.15 per diluted share) related to restructuring actions.” 10-K for 2018
Our summaryThe company reported restructuring charges and acquisition-related charges in fiscal 2015.
Word for word“In fiscal 2015, the Company had restructuring charges of $17.7 million after-tax or $0.40 per diluted share and acquisition-related charges of $1.4 million after-tax or $0.03 per diluted share.” 10-K for 2018
Our summaryThe company reported that it had no restructuring activities in fiscal 2018 or 2017.
Word for word“There were no restructuring activities during fiscal 2018 or 2017 .” 10-K for 2018
Our summaryThe company plans to consolidate engine production and close its Murray, Kentucky small engine plant, with restructuring costs expected over the next fiscal years.
Word for word“The pre-tax expense related to the restructuring activities is estimated to be $30 million to $35 million, of which $15 million to $20 million is expected to be realized in fiscal 2020.” 10-K for 2019
| Fiscal year ended | Restructuring charges |
|---|---|
| 2016-07-03 | $10.2 million |
| 2017-07-02 | $0 |
| 2018-07-01 | $0 |
Briggs & Stratton filed 1 restructuring notice (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Briggs & Stratton’s annual reports (10-K for 2019, 10-K for 2018, 10-K for 2017) and the financial data it files with the SEC, as of 2019-08-27. 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.