CyrusOne Holdco layoffs, on the record
Every job cut, severance charge and restructuring CyrusOne Holdco reported in its annual reports, 2019 to 2021, quoted from the filings.
Job cuts, severance and restructuring
Our summaryThe filing reports a $2.0 million decrease in general and administrative expenses for employee-related costs, including stock compensation and severance related costs.
Word for word“• $2.0 million decrease for employee-related costs including stock compensation and severance related costs; and” 10-K for 2019
Our summaryThe filing reports severance and management transition costs in its Normalized FFO reconciliation, showing a negative adjustment in 2019.
Word for word“Severance and management transition costs (0.6 ) 2.3 0.5 Legal claim costs 1.1 0.6 1.1 Normalized Funds from Operations ("Normalized FFO") $ 409.0 $ 332.3 $ 278.9 (1) Reflects certain reclassifications of previously reported amortization of customer intangibles and transaction costs to conform with the current presentation.” 10-K for 2019
Our summarySeverance costs rose in general and administrative expenses, driven by the separation of certain senior executives and a general reduction in force.
Word for word“$7.8 million increase primarily due to $14.8 million increase in severance related to the separation of certain senior executives from the Company and a general reduction in force, partially offset by $7.0 million of lower amortization of stock-based compensation for senior executives;” 10-K for 2020
Our summaryProperty operating expenses included a rise in personnel costs including severance.
Word for word“• $0.8 million increase in personnel costs including severance; partially offset by • $17.7 million decrease in equipment cost of sales due to higher sales volume during the year ended December 31, 2019.” 10-K for 2020
Our summaryCash severance and management transition costs were added back in the Normalized FFO reconciliation, and severance-related stock compensation costs were also reported.
Word for word“Cash severance and management transition costs 14.1 (0.6) 2.3 Severance-related stock compensation costs 2.9 — — Legal claim costs 0.3 1.1 0.6 Normalized Funds from Operations ("Normalized FFO") $ 459.4 $ 409.0 $ 332.3 Net Operating Income We use Net Operating Income ("NOI"), which is a non-GAAP financial measure commonly used in the REIT industry, as a supplemental performance measure.” 10-K for 2020
Our summaryCash flow from operations reflected an increase in severance and bonus payments.
Word for word“◦ $19.1 million increase in severance and bonus payments.” 10-K for 2020
Our summaryThe company paid severance to its then CEO in connection with his separation in July 2021, compared with higher severance paid to six senior managers, including the former CEO, during 2020.
Word for word“• $6.3 million decrease in compensation expense for severance paid to six members of the senior management team including our former Chief Executive Officer (CEO) during 2020, compared the severance paid in connection with the separation of our then CEO in July 2021; • $2.0 million decrease in consulting and legal, primarily related to tax fees related to European restructuring; and • $0.1 million decrease in legal fees primarily due to the receipt of $4.9 million in proceeds from the resolution of certain litigation, partially offset by increased costs related to customer negotiations and legal and tax planning.” 10-K for 2021
CyrusOne Holdco 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 CyrusOne Holdco’s annual reports (10-K for 2021, 10-K for 2020, 10-K for 2019) and the financial data it files with the SEC, as of 2022-02-17. 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.