Covanta Holding layoffs, on the record
Every job cut, severance charge and restructuring Covanta Holding reported in its annual reports, 2018 to 2020, quoted from the filings. Headcount went from approximately 4,000 to approximately 4,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2018 | approximately 4,000 | December 31, 2018 |
| 10-K for 2019 | approximately 4,000 | As of December 31, 2019 |
| 10-K for 2020 | approximately 4,000 | December 31, 2020 |
Job cuts, severance and restructuring
Our summaryThe company reported severance and reorganization costs in its Adjusted EBITDA reconciliation for 2018, 2017 and 2016.
Word for word“Severance and reorganization costs 5 1 3 Non-cash compensation expense 24 18 16 Adjustments to reflect Adjusted EBITDA from unconsolidated investments 23 — — Other (g) 14 6 7 Adjusted EBITDA $ 457 $ 408 $ 410 (a) The year ended December 31, 2017 includes a provisional net tax benefit of $183 million ( $1.40 per diluted share) associated with the enactment of the Tax Cuts and Jobs Act of 2017.” 10-K for 2018
Our summaryThe company recorded $13 million of severance and reorganization costs in 2019 tied to asset portfolio optimization, an early retirement program, and organizational restructuring.
Word for word“During the year ended December 31, 2019 , we recorded $13 million of costs related to our ongoing asset portfolio optimization efforts, early retirement program, and certain organizational restructuring activities.” 10-K for 2019
Our summaryThe company recorded severance and reorganization costs in 2020 and 2019 tied to asset rationalization, an early retirement program and organizational restructuring.
Word for word“(d) During the years ended December 31, 2020 and 2019, we recorded $5 million and $13 million, respectively, of costs related to our ongoing asset rationalization and portfolio optimization efforts, early retirement program, and certain organizational restructuring activities.” 10-K for 2020
Covanta Holding 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 Covanta Holding’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.