Elah Holdings layoffs, on the record
Every job cut, severance charge and restructuring Elah Holdings reported in its annual reports, 2015 to 2017, quoted from the filings. Headcount went from approximately 1,700 to approximately 1,850.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2015 | approximately 1,700 | As of December 31, 2015 |
| 10-K for 2016 | approximately 1,800 | December 31, 2016 |
| 10-K for 2017 | approximately 1,850 | As of December 31, 2017 |
Job cuts, severance and restructuring
Our summaryCorporate and Other compensation expense included a $0.3 million severance charge.
Word for word“Of the $5.4 million of compensation expense in the year ended December 31, 2015, $1.3 million was related to noncash equity award expense and $0.3 million related to severance.” 10-K for 2015
Our summaryRestructured and transitioned the corporate finance and accounting organization in Sherman Oaks, consolidating those functions into Real Alloy's Beachwood, Ohio headquarters.
Word for word“Further, management initiated a restructuring and transition of the Company’s corporate finance and accounting organization in Sherman Oaks principally to consolidate these functions into Real Alloy’s Beachwood, Ohio headquarters.” 10-K for 2016
Our summaryDecided to pursue a disposal of Cosmedicine, LLC, which led to employee terminations and asset impairments.
Word for word“Further, we determined to pursue a disposal of Cosmedicine, LLC (“Cosmedicine”).” 10-K for 2016
Our summaryImplemented operating efficiency initiatives at Real Alloy that right-sized operations in two plants.
Word for word“Additionally, in the first quarter of 2016, Real Alloy implemented a number of operating efficiency initiatives, right-sizing the operations in two plants.” 10-K for 2016
Our summaryRecorded severance and post-employment termination benefits as part of other operating expenses.
Word for word“In 2016, in addition to $15.5 million of SG&A expenses recognized in 2016, we also recorded other operating expenses of $3.2 million, including $0.8 million of impairment on Cosmedicine inventory and identifiable intangible assets, and $2.4 million of severance and post-employment termination benefits.” 10-K for 2016
Our summaryImpaired Cosmedicine identifiable intangible assets and wrote down its inventories in connection with the planned sale.
Word for word“As of December 31, 2016, Cosmedicine’s identifiable intangible assets, totaling $0.1 million, were impaired, and inventories were written down to estimated net realizable value of $0.1 million, which management expects will be sold in 2017.” 10-K for 2016
| Fiscal year ended | Severance costs |
|---|---|
| 2016-12-31 | $1.4 million |
Elah Holdings 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 Elah Holdings’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 2018-04-05. 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.