Diplomat Pharmacy layoffs, on the record
Every job cut, severance charge and restructuring Diplomat Pharmacy reported in its annual reports, 2016 to 2018, quoted from the filings. Headcount went from 1,827 to 2,335.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2016 | 1,827 | As of December 31, 2016 |
| 10-K for 2017 | 2,419 | December 31, 2017 |
| 10-K for 2018 | 2,335 | December 31, 2018 |
Job cuts, severance and restructuring
Our summaryThe filing describes recent cost savings and restructuring initiatives across all sectors of the business, which may involve workforce changes, but it reports no specific layoff numbers, severance program, or charges.
Word for word“In response to the business environment and to accomplish our strategic objectives, we have recently undertaken certain cost savings and restructuring initiatives across all sectors of our business.” 10-K for 2016
Our summaryThe company said it is undertaking cost savings and restructuring initiatives across all sectors of its business, which may disrupt its workforce and operations.
Word for word“In response to the business environment and to accomplish our strategic objectives, we are undertaking certain cost savings and restructuring initiatives across all sectors of our business.” 10-K for 2018
Our summaryThe company reported that higher employee costs in 2018 included severance and related expenses.
Word for word“Employee cost increased by $40,414, inclusive of a $10,890 increase in share-based compensation expense, primarily relating to inducement awards issued to our new chief executive officer, and $1,658 of severance and related expenses.” 10-K for 2018
Our summaryThe company said it is carrying out cost savings and restructuring initiatives in 2019 that may lower its SG&A expenses.
Word for word“In response to the business environment and to accomplish our strategic objectives, we are undertaking certain cost savings and restructuring initiatives across all sectors of our business in 2019 and expect these initiatives may result in a decrease in our SG&A expenses.” 10-K for 2018
Diplomat Pharmacy 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 Diplomat Pharmacy’s annual reports (10-K for 2018, 10-K for 2017, 10-K for 2016) and the financial data it files with the SEC, as of 2019-03-18. 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.