Claires Stores layoffs, on the record
Every job cut, severance charge and restructuring Claires Stores reported in its annual reports, 2016 to 2018, quoted from the filings. Headcount went from approximately 18,100 to approximately 17,300.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2016 | approximately 18,100 | On January 30, 2016 |
| 10-K for 2017 | approximately 18,200 | On January 28, 2017 |
| 10-K for 2018 | approximately 17,300 | February 3, 2018 |
Job cuts, severance and restructuring
Our summaryCompany reported severance and transaction-related costs, which it says consisted primarily of severance costs from reductions in workforce occurring from time-to-time, incurred since Fiscal 2007.
Word for word“Since Fiscal 2007, we have incurred severance and various transaction-related costs.” 10-K for 2016
Our summaryThe filing reports severance and transaction-related costs incurred since Fiscal 2007, consisting mainly of severance from workforce reductions that occur from time to time.
Word for word“During Fiscal 2016, Fiscal 2015 and Fiscal 2014, we incurred $2.5 million, $1.9 million and $8.2 million of such costs, respectively.” 10-K for 2017
Our summaryThe company filed voluntary Chapter 11 cases and entered into a Restructuring Support Agreement with its sponsor and certain first lien holders to carry out a financial restructuring through a pre-negotiated plan of reorganization.
Word for word“On March 19, 2018 (the “Commencement Date”), the Company and certain of its domestic subsidiaries (collectively with the Company, the “Debtors”), commenced voluntary chapter 11 cases (the “Chapter 11 Cases”) by filing voluntary petitions for reorganization under chapter 11 of title 11 (“Chapter 11”) of the United States Code (the “Bankruptcy Code”) with the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”).” 10-K for 2018
Our summaryThe company reported severance and transaction-related costs, mainly severance from workforce reductions plus advisory and legal fees, for the last three fiscal years.
Word for word“During Fiscal 2017, Fiscal 2016 and Fiscal 2015, we incurred $1.8 million, $2.5 million and $1.9 million of such costs, respectively.” 10-K for 2018
Claires Stores 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 Claires Stores’s annual reports (10-K for 2018, 10-K for 2017, 10-K for 2016) and the financial data it files with the SEC, as of 2018-04-20. 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.