Daseke layoffs, on the record
Every job cut, severance charge and restructuring Daseke reported in its annual reports, 2021 to 2023, quoted from the filings. Headcount went from 4,006 to 4,182.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2021 | 4,006 | December 31, 2021 |
| 10-K for 2022 | 4,123 employees | December 31, 2022 |
| 10-K for 2023 | 4,182 | December 31, 2023 |
Job cuts, severance and restructuring
Our summaryCompany announced a comprehensive restructuring plan (Project Pivot) to reduce its cost base and right-size its organization and management team.
Word for word“On September 4, 2019, the Company announced a comprehensive restructuring plan (Project Pivot) intended to reduce its cost base, right size its organization and management team and increase and accelerate its previously announced operational improvement goals.” 10-K for 2021
Our summaryCompany internally announced Project Synchronize to integrate operating segments, reducing the number of operating segments from 16 to 13.
Word for word“On July 30, 2019, the Company internally announced a plan to integrate three operating segments with three other operating segments (Project Synchronize or the Plan), which reduced the number of operating segments from 16 to 13 .” 10-K for 2021
Our summaryCompany decided to close certain Aveda terminals and wind down those operations.
Word for word“During the first quarter of 2020, the Company made the decision to close certain of the Aveda terminals and wind down those operations.” 10-K for 2021
Our summaryCompany announced Phase II of its integration plan, later reduced from three segment integrations to two.
Word for word“On March 10, 2020, the Company announced a plan to integrate three operating segments with three other operating segments (Phase II of the Plan).” 10-K for 2021
Our summaryCompany recorded integration and restructuring expenses under the Plan and Project Pivot in 2021 and 2020.
Word for word“The Company recorded $ 0.3 million and $ 1.3 million of integration and restructuring expenses in connection with the Plan and Project Pivot in the years ended December 31, 2021 and 2020, respectively.” 10-K for 2021
Our summaryCompany took cost actions over the COVID-19 period that included reduced employee hours, furloughs and layoffs, supported by its 2019 integration and improvement plans.
Word for word“These actions, which have been supported by the operational integrations and business improvement plans that the Company began to implement in 2019 (and which are discussed below), have included reduced use of contractors, reduced travel and advertising costs, reduced employee hours, furloughs, layoffs and voluntary use of paid time off, consistent with local regulations.” 10-K for 2021
Our summaryAnnounced an internal phased integration and restructuring plan (Transformation Plan) to integrate operating segments into four or five segments, reduce the cost base and right-size the organization and management team.
Word for word“During the first quarter of 2022, the Company internally announced a phased integration and restructuring plan, which we expect will ultimately integrate its operating segments into only four or five operating segments.” 10-K for 2022
Our summaryPlan intended to reduce the cost base and right-size the organization and management team.
Word for word“The Plan is intended to reduce the Company’s cost base, right size its organization and management team and increase and accelerate its previously announced operational improvement goals.” 10-K for 2022
Our summaryCompleted the earlier Project Pivot and Project Synchronize restructuring plans, with cumulative integration and restructuring costs reported as of December 31, 2021.
Word for word“The Company completed the previously announced internal restructuring (Project Pivot) and integration (Project Synchronize) plans as of December 31, 2021 and does not expect any future material restructuring costs associated with those prior plans.” 10-K for 2022
Our summaryOrganizational improvement plans initiated in the second half of 2019 resulted in significant costs, including severance and other related payments and lease termination fees.
Word for word“In the second half of 2019, the Company initiated several organizational improvement plans, which resulted in significant costs, including severance and other related payments and lease termination fees.” 10-K for 2022
Our summaryRecorded restructuring charges for Project Synchronize, including closure of certain Aveda terminals, in 2020.
Word for word“Restructuring costs were $9.5 million for the year ended December 31, 2020, which related to Phase I of Project Synchronize, which was completed in the first quarter of 2020, Phase II of Project Synchronize and the closure of certain Aveda terminals.” 10-K for 2022
Our summaryThe company announced internally a phased integration and restructuring plan to cut costs, optimize its network, and fold operating companies into its highest-performing platform companies.
Word for word“During the first quarter of 2022, the Company internally announced a phased integration and restructuring plan (the Plan).” 10-K for 2023
Our summaryThe company recorded a small amount of integration and restructuring expense for 2023, mostly professional fees offset by a reclassification.
Word for word“The Company recorded $ 0.5 million of integration and restructuring expenses primarily related to $ 1.2 million in professional fees partially offset by a $ 0.7 million prior quarter reclassification to acquisition-related transaction expenses, in connection with the Plan in the year ended December 31, 2023, comprised of $ 0.5 million in the Specialized Solutions segment and $ 0 million in the Flatbed Solutions segment.” 10-K for 2023
Our summaryThe company reported the total integration and restructuring costs incurred since the plan began.
Word for word“As of December 31, 2023, we have incurred a cumulative total of $ 2.9 million in integration and restructuring costs since inception of the Plan.” 10-K for 2023
| Fiscal year ended | Restructuring charges |
|---|---|
| 2019-12-31 | $8.4 million |
| 2020-12-31 | $9.5 million |
| 2021-12-31 | $300,000 |
| 2022-12-31 | $2.4 million |
| 2023-12-31 | $500,000 |
Daseke 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 Daseke’s annual reports (10-K for 2023, 10-K for 2022, 10-K for 2021) and the financial data it files with the SEC, as of 2024-03-07. 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.