CST Brands layoffs, on the record
Every job cut, severance charge and restructuring CST Brands reported in its annual reports, 2014 to 2016, quoted from the filings. Headcount went from 10,093 to 10,700.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2014 | 10,093 | December 31, 2014 |
| 10-K for 2015 | 10,923 persons in our U.S. Retail segment | December 31, 2015 |
| 10-K for 2016 | 10,700 | As of December 31, 2016 |
Job cuts, severance and restructuring
Our summaryCST accrued severance and benefit costs for certain CST executives and CST employees who were officers of CrossAmerica and who terminated their employment.
Word for word“CST accrued $6 million of severance and benefit costs in 2015 related to certain CST executives and CST employees who were officers of CrossAmerica who have terminated their employment.” 10-K for 2015
Our summaryCrossAmerica committed to a workforce reduction affecting certain employees of CrossAmerica or its affiliates, with estimated severance and other benefit costs recognized ratably over the required service period.
Word for word“As a result of the continued integration of certain processes and systems of our recently acquired businesses, CrossAmerica committed to a workforce reduction affecting certain employees of CrossAmerica or its affiliates and is recognizing $3 million of estimated cost of severance and other benefits ratably over the required service period, included in general and administrative expenses.” 10-K for 2015
Our summaryCrossAmerica had a severance accrual for officers who terminated their employment, of which part was paid in 2015.
Word for word“In addition, at December 31, 2014 , CrossAmerica had a $2 million accrual for severance and benefit costs related to certain officers who terminated their employment, of which $1 million was paid on April 14, 2015.” 10-K for 2015
Our summaryThe company recorded about $2 million of severance costs in the third quarter of 2016, mainly tied to selling its California and Wyoming convenience store operations.
Word for word“Additionally, we recorded approximately $2 million of severance costs during the third quarter of 2016 primarily related to the sale of our California and Wyoming convenience store operations as more fully described in Note 3 .” 10-K for 2016
CST Brands 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 CST Brands’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 2017-02-28. 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.