CIT layoffs, on the record
Every job cut, severance charge and restructuring CIT reported in its annual reports, 2018 to 2020, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2018 | 3,678 | December 31, 2018 |
Job cuts, severance and restructuring
Our summaryRestructuring costs reflected various organizational efficiency initiatives in 2017 and 2016, with severance and facility exiting liabilities tracked in Note 26.
Word for word“Restructuring costs reflects various organizational efficiency initiatives.” 10-K for 2018
Our summaryThe company recorded severance and facility additions for organizational efficiency and cost reduction initiatives, and stated there were no new restructuring charges for 2018.
Word for word“There were no new restructuring charges for 2018.” 10-K for 2018
| Fiscal year ended | Restructuring charges |
|---|---|
| 2016-12-31 | $36.2 million |
| 2017-12-31 | $53 million |
| 2018-12-31 | $0 |
| 2019-12-31 | $15.1 million |
| 2020-12-31 | $37.2 million |
CIT 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 CIT’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 2021-02-19. 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.