Cenveo layoffs, on the record
Every job cut, severance charge and restructuring Cenveo reported in its annual reports, 2014 to 2016, quoted from the filings. Headcount went from approximately 8,100 to approximately 7,300.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2014 | approximately 8,100 | the year ended 2014 |
| 10-K for 2016 | approximately 7,300 | the end of January 2016 |
| 10-K for 2016 | approximately 7,300 | the year ended 2016 |
Job cuts, severance and restructuring
Our summaryRestructuring and other charges recorded in 2014 under the 2014 Plan, 2013 Plan, and National integration plans, including employee separation costs of $8.1 million.
Word for word“During 2014 , as a result of our restructuring and integration activities, we incurred $22.5 million of restructuring and other charges, which included $8.1 million of employee separation costs, $2.0 million of net non-cash charges on long-lived assets, equipment moving expenses of $3.4 million , lease termination expenses of $2.2 million , multi-employer pension withdrawal expenses of $1.3 million and building clean-up and other expenses of $5.5 million .” 10-K for 2014
Our summaryImplementation of the 2014 Plan, focused on overhead cost eliminations including headcount reductions and potential closure of certain manufacturing facilities.
Word for word“During 2014, we implemented the 2014 Plan, which was primarily focused on overhead cost eliminations, including headcount reductions and the potential closure of certain manufacturing facilities.” 10-K for 2014
Our summaryContinued implementation of the 2013 Plan, focused on overhead cost eliminations including headcount reductions and potential closure of manufacturing facilities.
Word for word“Additionally, during 2014, we continued implementing the 2013 Plan, which was also primarily focused on overhead cost eliminations, including headcount reductions and the potential closure of certain manufacturing facilities.” 10-K for 2014
Our summaryCost savings actions in the first quarter of 2013 including targeted headcount reductions and facility closures.
Word for word“We also implemented additional cost savings actions in the first quarter of 2013, which were focused on overhead cost elimination, including targeted headcount reductions of approximately 400 employees and the closure of certain manufacturing facilities.” 10-K for 2014
Our summaryRestructuring and other charges recorded in 2013 including employee separation costs.
Word for word“During 2013 , as a result of our restructuring and integration activities, we incurred $13.1 million of restructuring and other charges, which included $6.5 million of employee separation costs, $1.3 million of net non-cash charges on long-lived assets, equipment moving expenses of $1.5 million , lease termination expenses of $1.1 million , multi-employer pension withdrawal expenses of $0.5 million and building clean-up and other expenses of $2.3 million .” 10-K for 2014
Our summaryRestructuring and other charges recorded in 2012 including employee separation costs.
Word for word“During 2012 , as a result of our restructuring and integration activities, we incurred $27.1 million of restructuring and other charges, which included $7.6 million of employee separation costs, $8.4 million of net non-cash charges on long-lived assets, equipment moving expenses of $1.1 million , lease termination expenses of $1.2 million , multi-employer pension withdrawal expenses of $5.1 million and building clean-up and other expenses of $3.8 million .” 10-K for 2014
Our summaryCompany pursued a 2015 cost savings and restructuring plan focused on overhead cost eliminations, including headcount reductions, and possible closure of manufacturing facilities.
Word for word“During 2015, the Company implemented the 2015 Plan, which primarily focuses on overhead cost eliminations, including headcount reductions, and the potential closure of certain manufacturing facilities.” 10-K for 2016
Our summaryCompany completed the National Plan, closing and consolidating nine manufacturing facilities into existing envelope operations and two new facilities.
Word for word“The Company completed the National Plan in 2015, which included the closure and consolidation of nine manufacturing facilities into existing envelope operations and two new facilities.” 10-K for 2016
Our summaryCompany maintains Residual Plans from prior years of cost savings actions, which have involved a significant number of headcount reductions and facility closures; no significant future expenses are anticipated beyond modifications to assumptions.
Word for word“As a result of these cost savings actions over the last several years, the Company has closed or consolidated a significant amount of manufacturing facilities and has had a significant number of headcount reductions.” 10-K for 2016
Our summaryThe company started a two-year, $50 million cost savings and profitability plan (the 2017 Profitability Improvement Plan) and expects higher restructuring charges, mainly severance, facility rationalization and equipment-related impairments.
Word for word“With this plan, we expect higher restructuring, impairment and other charges primarily resulting from severance expense, facility rationalization costs and impairments associated with equipment footprint reductions.” 10-K for 2016
Our summaryThe company has three active cost savings and restructuring plans (2017, 2016 and 2015 Plans) focused on cutting overhead, including headcount reductions and possible plant closures.
Word for word“We currently have three active cost savings, restructuring and integration plans, which are related to the implementation of cost savings initiatives focused on overhead cost eliminations, including headcount reductions and the potential closure of certain manufacturing facilities.” 10-K for 2016
Our summaryThe company reported its 2016 restructuring and other charges, including employee separation costs.
Word for word“During 2016 , as a result of our restructuring and integration activities, we incurred $12.0 million of restructuring and other charges, which included $5.1 million of employee separation costs, $3.2 million of net non-cash charges on long-lived assets, equipment moving expenses of $0.4 million , lease termination expenses of $0.4 million , multi-employer pension withdrawal expenses of $0.8 million and building clean-up and other expenses of $2.0 million .” 10-K for 2016
Our summaryThe company reported its 2015 restructuring and other charges, including employee separation costs.
Word for word“During 2015 , as a result of our restructuring and integration activities, we incurred $12.6 million of restructuring and other charges, which included $2.6 million of employee separation costs, $2.1 million of net non-cash charges on long-lived assets, equipment moving expenses of $0.2 million , lease termination expenses of $0.5 million , multi-employer pension withdrawal expenses of $5.0 million and building clean-up and other expenses of $2.2 million .” 10-K for 2016
Our summaryThe company completed its plan to integrate certain National assets, closing and consolidating nine manufacturing facilities into existing envelope operations and opening two new ones.
Word for word“During 2015, we also completed our plan to integrate certain assets of National, which we refer to as the National Plan, by completing the closure and consolidation of nine manufacturing facilities into our existing envelope operations and the opening of two new facilities.” 10-K for 2016
Our summaryThe company said past cost savings actions led to many closed or consolidated plants and a significant number of headcount reductions.
Word for word“As a result of these cost savings actions, over the last several years we have closed or consolidated a significant amount of manufacturing facilities and have had a significant number of headcount reductions.” 10-K for 2016
Our summaryThe company reported its total restructuring liability at year-end 2016.
Word for word“As of the year ended 2016 , our total restructuring liability was $20.9 million , of which $5.5 million is included in other current liabilities, and $15.4 million is included in other liabilities.” 10-K for 2016
| Fiscal year ended | Restructuring charges |
|---|---|
| 2016-12-31 | $12 million |
Cenveo 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 Cenveo’s annual reports (10-K for 2016, 10-K for 2016, 10-K for 2014) and the financial data it files with the SEC, as of 2017-02-23. 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.