Bungeltd layoffs, on the record
Every job cut, severance charge and restructuring Bungeltd reported in its annual reports, 2020 to 2022, quoted from the filings. Headcount went from more than 23,000 to approximately 23,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2020 | more than 23,000 | December 31, 2020 |
| 10-K for 2021 | more than 22,000 | December 31, 2021 |
| 10-K for 2022 | approximately 23,000 | December 31, 2022 |
Job cuts, severance and restructuring
Our summaryEmployee severance costs were tied to the relocation of the corporate headquarters and were a non-recurring prior year item that partially offset the 2020 decrease in Corporate and Other EBIT.
Word for word“partially offset by non-recurring prior year impairment charges and related employee severance costs associated with the relocation of our corporate headquarters and lower current period travel costs due to COVID-19 restrictions.” 10-K for 2020
Our summaryCorporate headquarters relocation in 2019 led to non-recurring impairment charges and related employee severance costs, which were a partial offset in the Corporate and Other comparison for 2020 versus 2019.
Word for word“The decrease is primarily due to higher variable incentive costs associated with improved company profitability during 2020, $66 million in bad debt expense in relation to a disputed account receivable balance stemming from an historical account receivable balance deemed uncollectible, and positive mark-to-market results on one of our corporate venture capital unit investments in 2019, partially offset by non-recurring impairment charges and related employee severance costs associated with the relocation of our corporate headquarters in 2019, and lower travel costs in 2020 due to COVID-19 restrictions.” 10-K for 2021
Our summaryBunge recorded impairment charges and employee severance expenses tied to classifying its Russian oilseed and processing business as held-for-sale.
Word for word“The increase in Cost of goods sold was primarily due to higher average commodity prices in all regions, as described for Net sales above, $55 million of non-recurring impairment charges and employee severance expenses related to the classification of our Russian oilseed and processing business as held-for-sale in the current period, unfavorable mark-to-market results, and increased industrial input costs, in particular energy, during the current year.” 10-K for 2022
Bungeltd filed 4 restructuring notices (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 Bungeltd’s annual reports (10-K for 2022, 10-K for 2021, 10-K for 2020) and the financial data it files with the SEC, as of 2023-02-24. 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.