Ch2m Hill Companies layoffs, on the record
Every job cut, severance charge and restructuring Ch2m Hill Companies reported in its annual reports, 2014 to 2016, quoted from the filings. Headcount went from approximately 25,000 to approximately 20,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2014 | approximately 25,000 | — |
| 10-K for 2015 | approximately 22,000 | — |
| 10-K for 2016 | approximately 20,000 | — |
Job cuts, severance and restructuring
Our summaryCommenced restructuring activities including a voluntary retirement program, workforce reductions, facilities consolidations, and evaluation of certain lines of business.
Word for word“During the year ended December 31, 2014, we incurred $70.4 million of costs for these restructuring activities which have been included in general and administration expense on the consolidated statements of operations.” 10-K for 2014
Our summaryRestructuring activities consisted of a voluntary retirement program, an involuntary reduction in force, closure of certain facilities and reduced overhead, and the reduction in force and voluntary retirement program caused loss of managers and engineers.
Word for word“Moreover, we lost managers and engineers through the reduction in force and voluntary retirement program, and that could have a negative impact on our ability to deliver projects and, consequently, on our results of operations.” 10-K for 2014
Our summaryExited the Power business as part of restructuring, shifting away from fixed price EPC power projects.
Word for word“In addition, as part of our restructuring efforts we announced in the third quarter of 2014, we made a decision to exit the Power business with the exception of projects under contract at that time which we remain committed to complete.” 10-K for 2014
Our summaryRestructuring provision by category: voluntary early retirement program, severance and termination benefits, facilities, and other costs, with the accruals for severance and termination to be paid in 2015.
Word for word“The accruals for employee severance and termination benefits and other restructuring activiti es will be paid in 2015.” 10-K for 2014
Our summaryRestructuring activities begun in September 2014, including a voluntary retirement program and workforce reductions, continued through the end of December 2015.
Word for word“These restructuring activities, which continued through the end of December 2015, included such items as a voluntary retirement program, workforce reductions, facilities consolidations and evaluation of certain lines of business.” 10-K for 2015
Our summaryRestructuring charges were recorded in 2015 for severance, facilities and other restructuring costs under the 2014 restructuring program.
Word for word“For the years ended December 25, 2015 and December 31, 2014, we incurred $60.6 million and $70.4 million, respectively, of costs for these restructuring activities which have been included in selling, general and administration expense on the consolidated statements of operations.” 10-K for 2015
Our summaryRestructuring charges were recorded in 2014 mainly for employee severance and termination benefits under the 2014 restructuring program.
Word for word“During the year ended December 31, 2014, we incurred $70.4 million for restructuring activities related primarily to employee severance and termination benefits.” 10-K for 2015
Our summaryCumulative restructuring costs since the program began were disclosed, with no further restructuring costs expected in 2016.
Word for word“Overall, as of December 25, 2015, we have incurred aggregated costs of $131.0 million for restructuring activities.” 10-K for 2015
Our summaryThe company exited the fixed-price EPC power business as part of its restructuring, with a goodwill and intangible impairment charge.
Word for word“Furthermore, there was a $45.5 million goodwill and intangible asset impairment charge incurred during the year ended December 31 , 2014 related to the restructuring as the Company exited th e fixed-price EPC Power business.” 10-K for 2015
Our summaryA reduction in force and voluntary retirement programs initiated in 2014 as part of planned restructurings caused the loss of veteran managers and engineers.
Word for word“We lost veteran managers and engineers through the reduction in force and voluntary retirement programs we initiated in 2014 as part of our planned restructurings.” 10-K for 2015
Our summaryThe company began a 2016 restructuring plan that includes workforce reductions and facilities consolidations, and it has recorded $42.2 million of costs for it so far.
Word for word“During the year ended December 30, 2016, we incurred $42.2 million of costs for these restructuring activities related to the 2016 Restructuring Plan, which have been included in selling, general and administration expense on the consolidated statements of operations.” 10-K for 2016
Our summaryThe company expects total charges for the 2016 plan, mainly severance, termination benefits and facility consolidation costs, to reach $50.0 to $70.0 million.
Word for word“Overall, we expect to incur up to approximately $50.0 million to $70.0 million in total restructuring charges under the 2016 Restructuring Plan, primarily related to employee severance and termination benefits and facilities consolidation costs.” 10-K for 2016
Our summaryThe company ran a 2014 restructuring plan that included a voluntary retirement program and workforce reductions, and it was substantially complete by the end of 2015.
Word for word“These restructuring activities, which continued into 2015, included such items as a voluntary retirement program, workforce reductions, facilities consolidations and closures, and evaluation of certain lines of business.” 10-K for 2016
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-12-30 | $42.2 million | $38.2 million |
Ch2m Hill Companies 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 Ch2m Hill Companies’s annual reports (10-K for 2016, 10-K for 2015, 10-K for 2014) and the financial data it files with the SEC, as of 2017-03-07. 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.