Computer Sciences layoffs, on the record
Every job cut, severance charge and restructuring Computer Sciences reported in its annual reports, 2015 to 2017, quoted from the filings. Headcount went from 70,000 to approximately 60,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2015 | 70,000 | April 3, 2015 |
| 10-K for 2016 | approximately 59,000 | April 1, 2016 |
| 10-K for 2017 | approximately 60,000 | March 31, 2017 |
Job cuts, severance and restructuring
Our summaryLaunched the Fiscal 2015 Plan of restructuring actions to further reduce headcount across its business segments.
Word for word“Total restructuring costs for the Fiscal 2015 Plan recorded during fiscal 2015 were $273 million , and consisted mainly of termination benefits associated with the workforce reductions, including $10 million of pension benefit augmentation.” 10-K for 2015
Our summaryTook a special restructuring charge in the fourth quarter to optimize the workforce in high cost markets, particularly in Europe, and right-shore its labor mix.
Word for word“As part of this plan, the Company took a restructuring charge of $246 million in the fourth quarter of fiscal 2015 to accelerate the efforts to optimize the workforce in high cost markets, particularly in Europe, address its labor pyramid and right-shore its labor mix.” 10-K for 2015
Our summaryRecorded total restructuring costs for fiscal 2015 across segments, including GBS, GIS, NPS and Corporate.
Word for word“In fiscal 2015 , the Company recorded restructuring costs of $261 million , of which $137 million related to GBS, $114 million to GIS, $5 million to NPS and $5 million to Corporate.” 10-K for 2015
Our summaryContinued the Fiscal 2013 Plan to reduce headcount and use lower cost off-shore resources, with fiscal 2015 costs reduced by a cancellation of part of a regional plan.
Word for word“Total restructuring costs for the Fiscal 2013 Plan recorded during fiscal 2015 , 2014 , and 2013 were $(12) million , $74 million , and $233 million , respectively, including pension benefit augmentations of $(7) million , $22 million , and $21 million , respectively, that are owed to certain employees in accordance with legal or contractual obligations, and which will be paid out over several years as part of normal pension distributions.” 10-K for 2015
Our summaryRecorded restructuring costs in fiscal 2014 under the Fiscal 2013 Plan and earlier efforts to reduce headcount.
Word for word“In fiscal 2014 , the Company had recorded restructuring costs of $76 million , of which $46 million was related to GBS, $28 million to GIS, and $2 million to NPS.” 10-K for 2015
Our summaryRecorded restructuring costs for the Fiscal 2012 plan, associated primarily with employee terminations, with no costs in fiscal 2015.
Word for word“The restructuring costs for the Fiscal 2012 plan recorded during fiscal 2015 , 2014 , and 2013 were $0 million , $2 million , and $31 million , respectively, and were associated primarily with employee terminations.” 10-K for 2015
Our summaryInitiated the Fiscal 2016 Plan, a restructuring across business segments to optimize facilities and rightsize overhead after the CSRA separation, including workforce reductions.
Word for word“In September 2015, the Company initiated restructuring actions (the Fiscal 2016 Plan) across its business segments.” 10-K for 2016
Our summaryFiscal 2015 Plan to further reduce headcount; a special restructuring charge was taken to optimize the workforce in high cost markets, particularly in Europe.
Word for word“As part of this plan, the Company recorded a special restructuring charge of $241 million in the fourth quarter of fiscal 2015 to accelerate efforts to optimize the workforce in high cost markets, particularly in Europe, address its labor pyramid and right-shore its labor mix.” 10-K for 2016
Our summaryFiscal 2013 Plan restructuring to reduce headcount and costs, including use of lower cost off-shore resources; the plan continued through fiscal 2014.
Word for word“The objectives of the Fiscal 2013 Plan were to (i) further increase the use of lower cost off-shore resources, (ii) reduce headcount in order to align resources to support business needs, including the assessment of management span of control and layers and (iii) optimize utilization of facilities.” 10-K for 2016
Our summaryFiscal 2012 Plan restructuring to align workforce across geographies and use lower cost off-shore resources, mainly in GIS, carried out in fiscal 2013 and 2014.
Word for word“In March 2012, the Company initiated restructuring actions (the Fiscal 2012 plan) primarily impacting its GIS segment.” 10-K for 2016
Our summaryStarted the Fiscal 2017 restructuring plan in May 2016 to realign costs and resources after recent acquisitions.
Word for word“In May 2016, the Company initiated the Fiscal 2017 Plan in certain areas of the business to realign its cost structure and resources to take advantage of operational efficiencies following recent acquisitions.” 10-K for 2017
Our summaryReported total restructuring costs for fiscal 2017, 2016 and 2015, mostly from workforce reductions in fiscal 2017.
Word for word“Total restructuring costs recorded, net of reversals, during fiscal 2017 , 2016 and 2015 were $238 million , $23 million and $256 million , respectively.” 10-K for 2017
Our summaryLaunched a restructuring plan in the fourth quarter of fiscal 2017 to optimize the workforce by moving more work to low-cost locations.
Word for word“During the fourth quarter of Fiscal 2017, the Company initiated a restructuring plan to strengthen the Company's competitiveness and to optimize certain workforce by increasing work performed in low-cost locations.” 10-K for 2017
Our summaryPlans large restructuring expenses to integrate the businesses after the Merger over fiscal 2018 and 2019.
Word for word“During fiscal 2018, as we integrate our businesses after the Merger, we plan to incur restructuring expenses of approximately $1.3 billion in fiscal 2018 and an additional $400 million in fiscal 2019.” 10-K for 2017
Our summarySet up the Fiscal 2015 plan in June 2014 to cut headcount in high-cost markets, especially Europe, and shift its labor mix.
Word for word“In June 2014, the Fiscal 2015 Plan was established to optimize the workforce in high cost markets, particularly in Europe, address the Company's labor pyramid and right shore its labor mix.” 10-K for 2017
| Fiscal year ended | Restructuring charges |
|---|---|
| 2017-03-31 | $238 million |
Computer Sciences 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 Computer Sciences’s annual reports (10-K for 2017, 10-K for 2016, 10-K for 2015) and the financial data it files with the SEC, as of 2017-05-26. 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.