Electronics FOR Imaging layoffs, on the record
Every job cut, severance charge and restructuring Electronics FOR Imaging reported in its annual reports, 2016 to 2018, quoted from the filings. Headcount went from 3,235 to approximately 3,400.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2016 | 3,235 | December 31, 2016 |
| 10-K for 2017 | 3,366 | December 31, 2017 |
| 10-K for 2018 | approximately 3,400 | December 31, 2018 |
Job cuts, severance and restructuring
Our summaryRestructuring and other charges included severance costs tied to headcount reductions of 128 positions in 2016.
Word for word“Restructuring and other charges include severance costs of $4.1, $3.0, and $3.2 million related to head count reductions of 128, 99, and 130 for the years ended December 31, 2016, 2015, and 2014, respectively.” 10-K for 2016
Our summaryCompany reported restructuring and other costs, including facilities relocation and downsizing costs, as part of cost reduction actions to lower its operating expense run rate and consolidate facilities.
Word for word“During the years ended December 31, 2016, 2015, and 2014, cost reduction actions lowered our operating expense run rate as we continue to analyze our cost structure and re-align our cost structure following our business acquisitions.” 10-K for 2016
Our summaryRestructuring and other charges included severance costs tied to head count reductions of 144 employees in 2017.
Word for word“Restructuring and other charges include severance costs of $4.7, $4.1, and $3.0 million related to head count reductions of 144, 128, and 99 for the years ended December 31, 2017, 2016, and 2015, respectively.” 10-K for 2017
Our summaryCompany recorded facilities relocation and downsizing expenses related to relocating manufacturing and administrative locations.
Word for word“Facilities relocation and downsizing expenses for the years ended December 31, 2017, 2016, and 2015 were $0.6, $0.5, and $0.9 million, respectively.” 10-K for 2017
Our summaryCompany reported total restructuring and other costs, including severance, facilities and integration expenses, in each of the three years.
Word for word“Restructuring and other costs for the years ended December 31, 2017, 2016, and 2015 were $7.6, $6.7, and $5.7 million, respectively.” 10-K for 2017
Our summaryThe company recorded restructuring and other expenses in 2018, including severance costs tied to a headcount reduction of 148.
Word for word“Restructuring and other expenses were $13.6 million in the year ended December 31, 2018 and included severance costs of $7.6 million related to head count reductions of 148.” 10-K for 2018
Our summaryThe company recorded restructuring and other expenses in 2017, including severance costs tied to a headcount reduction of 144.
Word for word“Restructuring and other expenses were $7.6 million in the year ended December 31, 2017 and included severance costs of $4.7 million related to head count reductions of 144.” 10-K for 2018
Our summaryThe company recorded restructuring and other expenses in 2016, including severance costs tied to a headcount reduction of 128.
Word for word“Restructuring and other expenses were $6.7 million in the year ended December 31, 2016 and included severance costs of $4.1 million related to head count reductions of 128.” 10-K for 2018
Our summaryIn 2018 the company incurred costs to relocate operations from Meredith to Manchester, NH and to consolidate its Fremont, CA headquarters from two buildings into one.
Word for word“We also incurred facilities relocation and downsizing expenses of $1.7 million, primarily consisting of costs to relocate operations from our prior Meredith, NH facilities to our new Manchester, NH facility and to consolidate our headquarters in Fremont, CA from two buildings into one.” 10-K for 2018
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-12-31 | $2.8 million | — |
| 2017-12-31 | $5.1 million | $6.7 million |
| 2018-12-31 | $8.3 million | $13.1 million |
Electronics FOR Imaging 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 Electronics FOR Imaging’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 2019-02-27. 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.