ClubCorp Holdings layoffs, on the record
Every job cut, severance charge and restructuring ClubCorp Holdings reported in its annual reports, 2014 to 2016, quoted from the filings. Headcount went from approximately 16,900 to approximately 18,300.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2014 | approximately 16,900 | March 5, 2015 |
| 10-K for 2015 | approximately 17,800 | February 19, 2016 |
| 10-K for 2016 | approximately 18,300 | February 21, 2017 |
Job cuts, severance and restructuring
Our summaryThe company entered into an individual severance payment and release agreement with executive James Walters.
Word for word“10.32 Severance Payment and Release Agreement, dated January 7, 2016, between James Walters and ClubCorp USA, Inc. and indirect subsidiary of ClubCorp Holdings, Inc.” 10-K for 2015
Our summaryThe company reported higher severance expense in fiscal year 2016, which contributed to the increase in selling, general and administrative expenses.
Word for word“This included increased costs of $2.5 million related to the design phase of our centralization and transformation of administrative processes, finance processes and related IT systems, offset by lower costs related to our initial compliance with SOX 404(b) in fiscal year 2015, and a $0.4 million increase in severance expense.” 10-K for 2016
ClubCorp Holdings 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 ClubCorp Holdings’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 2017-02-27. 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.