Dean Foods layoffs, on the record
Every job cut, severance charge and restructuring Dean Foods reported in its annual reports, 2017 to 2019, quoted from the filings. Headcount went from approximately 16,000 to approximately 14,500.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2017 | approximately 16,000 | December 31, 2017 |
| 10-K for 2018 | approximately 15,000 | December 31, 2018 |
| 10-K for 2019 | approximately 14,500 | As of December 31, 2019 |
Job cuts, severance and restructuring
Our summaryCompany-wide multi-phase organizational effectiveness assessment initiated in 2017 resulted in headcount reductions from changes to the organizational structure, with charges mainly severance and employee-related costs.
Word for word“(2) During 2017, we initiated a company-wide, multi-phase organizational effectiveness assessment to better align each key function of the Company with our strategic plan.” 10-K for 2017
Our summaryEnterprise-wide cost productivity plan announced, resulting in headcount reductions; charges mainly severance and employee-related costs, with an additional phase expected but costs not yet estimable.
Word for word“(3) In the fourth quarter of 2017, we announced an enterprise-wide cost productivity plan, which includes rescaling our supply chain, optimizing spend management and integrating our operating model.” 10-K for 2018
Our summaryThe company recorded lower general and administrative salary costs in 2018 because of reduced headcount while carrying out its enterprise-wide cost productivity plan.
Word for word“General and administrative costs of $277.7 million in 2018 declined from the prior year driven by decreases in salaries and wages and employee-related costs of $26.4 million associated with lower headcount in comparison to the prior year as we execute our enterprise-wide cost productivity plan.” 10-K for 2019
Our summaryThe company recognized impairment charges on property and equipment at facilities approved for closure in 2019.
Word for word“Additionally, within prepetition facility closing and restructuring costs, we recognized $5.1 million of impairment charges during the year ended December 31, 2019 related to the write-down of property, plant and equipment at facilities approved for closure.” 10-K for 2019
Our summaryThe company's Board approved a retention program for key employees during its Chapter 11 restructuring.
Word for word“In order to enhance the Company’s ability to attract, retain and incentivize the employees necessary to maximize the value of the business during its restructuring, on January 17, 2020, on the recommendation of its compensation advisors, the Board of Directors of the Company approved a $7.13 million Key Employee Retention Program (the “KERP”).” 10-K for 2019
| Fiscal year ended | Restructuring charges |
|---|---|
| 2016-12-31 | $8.7 million |
| 2017-12-31 | $24.9 million |
| 2018-12-31 | $75 million |
| 2019-12-31 | $17 million |
Dean Foods 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 Dean Foods’s annual reports (10-K for 2019, 10-K for 2018, 10-K for 2017) and the financial data it files with the SEC, as of 2020-03-20. 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.