Conns layoffs, on the record
Every job cut, severance charge and restructuring Conns reported in its annual reports, 2022 to 2024, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | approximately 4,000 full-time employees and 120 part-time employees | — |
| 10-K for 2023 | approximately 3,800 full-time employees and 130 part-time employees | — |
| 10-K for 2024 | approximately 4,500 full-time employees and 150 part-time employees | — |
Job cuts, severance and restructuring
Our summaryThe company recognized severance costs tied to a change in its executive management team, which is recorded as employee severance in charges and credits.
Word for word“In addition, we recognized $2.7 million in severance costs related to a change in the executive management team.” 10-K for 2022
Our summaryThe company recognized severance costs tied to a change in its executive management team.
Word for word“During the year ended January 31, 2023, we recognized $8.0 million in severance costs related to a change in the executive management team.” 10-K for 2023
Our summaryThe company recorded accelerated restricted stock unit expense charged to severance.
Word for word“Accelerated RSU expense charged to severance 5,736 — 1,255 Total stock-based compensation expense $ 16,708 $ 8,915 $ 10,585.” 10-K for 2023
Our summaryThe company recorded store closure costs from impairing assets after deciding to end its store-within-a-store test with Belk, Inc., and also booked a gain on selling one store.
Word for word“In addition, we recognized a $3.1 million gain related to the sale of a single store location net of asset disposal costs and a loss of $2.3 million in store closure costs related to the impairment of assets associated with the decision to end the store-within-a-store test with Belk, Inc.” 10-K for 2024
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2017-01-31 | $1.9 million | $738,000 | $789,000 |
| 2018-01-31 | $1.3 million | — | — |
| 2019-01-31 | $737,000 | — | — |
| 2020-01-31 | $0 | — | — |
| 2021-01-31 | $2.7 million | — | — |
| 2022-01-31 | $0 | — | — |
| 2023-01-31 | $8 million | — | — |
| 2024-01-31 | $0 | — | — |
Conns 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 Conns’s annual reports (10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2024-04-18. 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.