DST Systems layoffs, on the record
Every job cut, severance charge and restructuring DST Systems reported in its annual reports, 2015 to 2017, quoted from the filings. Headcount went from 13,420 to approximately 14,200.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2015 | 13,420 | December 31, 2015 |
| 10-K for 2016 | approximately 5,700 employees in the U.S. and approximately 2,700 employees internationally | December 31, 2016 |
| 10-K for 2017 | approximately 14,200 | December 31, 2017 |
Job cuts, severance and restructuring
Our summaryRestructuring initiative in the Healthcare Services segment with employee termination costs and closure of an operating location at the end of the lease term in mid-2016.
Word for word“During the year ended December 31, 2015, we incurred $3.4 million of pretax charges related to employee termination costs as a result of a restructuring initiative within the Healthcare Services segment which includes the closure of an operating location at the end of the existing lease term in mid-2016.” 10-K for 2015
Our summaryRestructuring event to reduce workforce and consolidate facilities within the Financial Services segment.
Word for word“The costs incurred within the Financial Services segment of $8.5 million were comprised of employee termination costs of $8.3 million and $0.2 million of lease termination costs.” 10-K for 2015
Our summaryRestructuring charges in Customer Communications including employee termination and lease exit costs.
Word for word“During the year ended December 31, 2014, we incurred $12.7 million of pretax charges related to employee and lease termination costs related to these restructuring initiatives ($8.5 million in Financial Services and $4.2 million in Customer Communications).” 10-K for 2015
Our summaryRemaining liability associated with restructuring activities was carried on the balance sheet.
Word for word“As of December 31, 2015 and 2014, we had a remaining liability of $4.1 million and $6.4 million , respectively, associated with these restructuring activities.” 10-K for 2015
Our summaryRestructuring initiative within the Financial Services segment involving employee and lease termination costs.
Word for word“During the year ended December 31, 2016, we incurred pretax restructuring charges related to employee termination costs of $9.9 million and lease termination costs of $0.5 million within the Financial Services segment.” 10-K for 2016
Our summaryRestructuring initiatives within the Financial Services segment involving employee and lease termination costs.
Word for word“During the year ended December 31, 2014, the Financial Services segment incurred $8.5 million of pretax charges related to employee and lease termination costs for restructuring initiatives.” 10-K for 2016
Our summaryThe company restructured to right-size the organization and improve efficiency, recording charges mainly for employee terminations in 2017.
Word for word“During the year ended December 31, 2017 , we incurred pretax restructuring charges primarily related to employee terminations and related costs of $23.4 million in Costs and expenses.” 10-K for 2017
Our summaryThe company recorded restructuring charges in 2016 and 2015.
Word for word“During the years ended December 31, 2016 and 2015, we incurred $10.4 million and $3.4 million of pretax restructuring charges, respectively.” 10-K for 2017
Our summaryThe company recorded 2017 employee termination restructuring charges across its three segments.
Word for word“During the year ended December 31, 2017, we incurred pretax restructuring charges related to employee terminations of $16.3 million within the Domestic Financial Services segment, $2.7 million in International Financial Services and $4.4 million within the Healthcare Services segment.” 10-K for 2017
Our summaryThe company recorded 2016 restructuring charges for employee and lease terminations in the Domestic Financial Services segment.
Word for word“During the year ended December 31, 2016, we incurred pretax restructuring charges related to employee termination costs of $9.9 million and lease termination costs of $0.5 million within the Domestic Financial Services segment.” 10-K for 2017
DST Systems 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 DST Systems’s annual reports (10-K for 2017, 10-K for 2016, 10-K for 2015) and the financial data it files with the SEC, as of 2018-02-28. 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.