China XD Plastics layoffs, on the record
Every job cut, severance charge and restructuring China XD Plastics reported in its annual reports, 2018 to 2020, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2018 | 1,145 | December 31, 2018 |
Job cuts, severance and restructuring
Our summaryShanghai Sales was disposed of through a group restructuring to streamline resources and improve operating efficiency, with the Company recording a loss on the disposal.
Word for word“The legal transfer was completed on December 19, 2018 and the Company recorded a loss of US$0.2 million on disposal of Shanghai Sales for the year ended December 31, 2018.” 10-K for 2018
Our summaryDisposed of Shanghai Sales through a group restructuring to streamline resources and improve operating efficiency, selling it to its General Manager.
Word for word“Xiaohui Gao, the General Manager of Shanghai Sales, to transfer the wholly owned equity of Shanghai Sales from HLJ Xinda Group to Mr. Gao for a cash consideration of RMB50.0 million (equivalent to US$7.3 million) as a result of group restructuring to streamline resources and improve operating efficiency.” 10-K for 2019
Our summaryDisposed of Shanghai New Materials R&D through a group restructuring to streamline resources and improve operating efficiency.
Word for word“The legal transfer was completed on February 1, 2019 and the Company recorded gains of US$0.5 million on disposal of Shanghai New Materials R&D for the year ended December 31, 2019.” 10-K for 2019
Our summaryDissolved Sichuan Composite Materials as part of restructuring.
Word for word“In January 2019, Sichuan Composite Materials was dissolved.” 10-K for 2019
Our summaryFurther optimized the management structure and enhanced efficiency through corporate restructuring.
Word for word“We completed our corporate restructuring plan at the end of 2014 and further optimized our management structure and enhancing efficiency in 2018, with the aim of establishing a more efficient company group structure, as a result of which our subsidiaries are more easily accessible to our end customers and our operations are able to respond to the market changes in a more efficient manner.” 10-K for 2019
Our summaryThe company disposed of its Shanghai Sales subsidiary as part of a group restructuring meant to streamline resources and improve efficiency.
Word for word“In December 2018, Shanghai Sales was disposed as a result of group restructuring to streamline resources and improve operating efficiency.” 10-K for 2020
Our summaryThe company disposed of its Shanghai New Materials R&D subsidiary as part of a group restructuring meant to streamline resources and improve efficiency.
Word for word“In February 2019, Shanghai New Materials R&D was disposed as a result of group restructuring to streamline resources and improve operating efficiency.” 10-K for 2020
Our summaryThe company deregistered Xinda Group Material Research in 2016 as part of a group restructuring.
Word for word“Xinda Group Material Research was deregistered in 2016 as a result of group restructuring.” 10-K for 2020
China XD Plastics 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 China XD Plastics’s annual reports (10-K for 2020, 10-K for 2019, 10-K for 2018) and the financial data it files with the SEC, as of 2021-11-15. 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.