Delphi Technologies layoffs, on the record
Every job cut, severance charge and restructuring Delphi Technologies reported in its annual reports, 2017 to 2019, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2017 | approximately 18,000 | As of December 31, 2017 |
| 10-K for 2018 | approximately 21,000 | December 31, 2018 |
| 10-K for 2019 | approximately 21,000 workers | December 31, 2019 |
Job cuts, severance and restructuring
Our summaryRecorded restructuring charges of about $98 million in 2017, including separation costs for a Western European plant closure in Powertrain Systems and other European footprint and overhead programs.
Word for word“The charges recorded during the year ended December 31, 2017 included $55 million of separation costs for approximately 500 employees due to the initiation of the closure of a Western European manufacturing site within the Powertrain Systems segment and approximately $30 million related to other programs pursuant to the Company's on-going European footprint rotation strategy.” 10-K for 2017
Our summaryRecorded restructuring charges of about $161 million in 2016, including $93 million tied to closing a European plant in Powertrain Systems with separation costs.
Word for word“The Company recorded employee-related and other restructuring charges totaling approximately $161 million during the year ended December 31, 2016 .” 10-K for 2017
Our summaryRecorded employee-related and other restructuring charges for a workforce reduction at a European manufacturing site in Powertrain Systems.
Word for word“These charges included approximately $68 million of employee-related and other costs related to the initiation of a workforce reduction at a European manufacturing site within the Powertrain Systems segment.” 10-K for 2017
Our summaryRecorded $81 million of separation costs tied to the Separation from Aptiv, reported separately from restructuring.
Word for word“Separation costs 81 — — — — Other acquisition and portfolio project costs — 2 2 — — Asset impairments 12 29 9 — — Adjusted operating income $ 637 $ 512 $ 526 $ 494 $ 432 (3) Adjusted operating income margin is defined as adjusted operating income as a percentage of Net sales.” 10-K for 2017
Our summaryStated that the company expects to incur additional restructuring expense in 2018 and may take further restructuring actions in the future.
Word for word“We expect to continue to incur additional restructuring expense in 2018 , primarily related to programs focused on the continued rotation of our manufacturing footprint to best-cost locations in Europe and to reduce global overhead costs.” 10-K for 2017
Our summaryRecorded 2018 restructuring charges for programs rotating manufacturing to best-cost locations in Europe and reducing global overhead costs, including workforce reductions and plant closures.
Word for word“The Company recorded employee-related and other restructuring charges related to these programs totaling approximately $35 million during the year ended December 31, 2018 , of which $22 million was recognized for programs focused on continued rotation of our manufacturing footprint to best cost locations in Europe and $3 million was recognized for programs implemented to reduce global overhead costs.” 10-K for 2018
Our summaryRecorded restructuring charges for European manufacturing footprint rotation, including closure of a European manufacturing site, and global overhead reduction programs.
Word for word“During the year ended December 31, 2016 , Delphi Technologies recorded employee-related and other restructuring charges totaling approximately $161 million .” 10-K for 2018
Our summaryStated it expects to continue to incur additional restructuring expense in 2019 and may take further restructuring actions to adjust its cost structure and manufacturing footprint.
Word for word“We expect to continue to incur additional restructuring expense in 2019 .” 10-K for 2018
Our summaryThe company announced a plan to restructure its global technical center footprint and cut salaried and contract staff by about 10%, subject to works council consultation.
Word for word“During the fourth quarter of 2019, we announced plans to restructure our global technical center footprint, which includes reducing salaried and contract staff by approximately 10%.” 10-K for 2019
Our summaryThe company announced a restructuring plan to reshape its technical center footprint and reduce salaried and contract staff, recording charges in 2019 and expecting more.
Word for word“Restructuring charges during the year ended December 31, 2019 , included $56 million related to this restructuring plan and we expect to record additional pre-tax restructuring charges of up to approximately $150 million , primarily in Fuel Injection Systems and to a lesser extent Powertrain Products.” 10-K for 2019
Our summaryThe company highlighted a $200 million restructuring plan to realign its engineering footprint and lower its overall cost structure.
Word for word“Announced a $200 million restructuring plan to reshape and realign our engineering footprint, as well as significantly reduce overall cost structure; • Continued our focus on a diversified geographic and customer mix, resulting in: ◦ 45% of our net sales generated in Europe, 28% from North America, and 24% from Asia Pacific; and ◦ 19% of our net sales related to the Aftermarket segment.” 10-K for 2019
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-12-31 | $161 million | $165 million |
| 2017-12-31 | $98 million | $88 million |
| 2018-12-31 | $35 million | $67 million |
| 2019-12-31 | $3 million | $49 million |
Delphi Technologies filed 1 restructuring notice (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Delphi Technologies’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 2020-02-13. 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.