Cazoo Group layoffs, on the record
Every job cut, severance charge and restructuring Cazoo Group reported in its annual reports, 2021 to 2022, quoted from the filings. Headcount went from 2,642 to 3,226.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 20-F for 2021 | 2,642 | August 27, 2021 |
| 20-F for 2021 | 3,822 | December 31, 2021 |
| 20-F for 2022 | 3,226 | December 31, 2022 |
Job cuts, severance and restructuring
Our summaryThe company announced its Revised 2023 Plan, which included a reduction in headcount, leaving 1,511 employees by March 20, 2023.
Word for word“Following the implementation of that plan, as of March 20, 2023 we had 1,511 employees, of which 25 were based in France, 64 in Germany, 4 in Portugal and 1,418 in the United Kingdom.” 20-F for 2022
Our summaryThe company recorded restructuring costs within exceptional items tied to its Revised Business Plans.
Word for word“exceptional items of £7.0 million include restructuring costs of £6.0 million with the remainder primarily related to transaction costs incurred on the acquisition of brumbrum.” 20-F for 2022
Our summaryThe company set up a restructuring provision for actions under its Revised Business Plans, including redundancy costs, mostly to be paid within 12 months.
Word for word“The restructuring provision relates to actions being undertaken as part of the Group’s Revised Business Plans including redundancy costs.” 20-F for 2022
Cazoo Group 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 Cazoo Group’s annual reports (20-F for 2022, 20-F for 2021, 20-F for 2021) and the financial data it files with the SEC, as of 2023-03-30. 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.