Endo International layoffs, on the record
Every job cut, severance charge and restructuring Endo International reported in its annual reports, 2021 to 2023, quoted from the filings. Headcount went from 3,103 to 2,931.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2021 | 3,103 | February 21, 2022 |
| 10-K for 2022 | 2,861 | February 27, 2023 |
| 10-K for 2023 | 2,931 | February 28, 2024 |
Job cuts, severance and restructuring
Our summaryThe company announced in November 2020 a set of strategic actions called the 2020 Restructuring Initiative to further optimize operations and increase efficiency, which it reports it has been progressing.
Word for word“In November 2020, we announced the initiation of several strategic actions, collectively referred to as the 2020 Restructuring Initiative, to further optimize operations and increase overall efficiency.” 10-K for 2021
Our summaryThe filing reports that 2021 amounts include a net pre-tax reversal of expense, mainly for severance costs that were avoided for employees who moved to buyers in certain site sales.
Word for word“Discontinued Operations and Note 4. Restructuring in the Consolidated Financial Statements included in Part IV, Item 15 of this report, amounts in 2021 include a net pre-tax reversal of expense, primarily related to avoided severance costs for employees that transitioned to the purchasers in connection with certain site sales.” 10-K for 2021
Our summaryThe filing describes a 2020 restructuring initiative that included a workforce reduction, with employee separation costs recorded under it; the text supplied does not give the number of positions cut.
Word for word“endp:RestructuringInitiative2020Member 2020-11-01 2020-11-30 endp:position” 10-K for 2022
Our summaryThe company announced further actions to stop producing and selling QWO, which it calls the 2022 Restructuring Initiative, aimed at generating cost savings.
Word for word“In December 2022, we announced we would be taking certain additional actions to cease the production and sale of QWO ® in light of market concerns about the extent and variability of bruising following initial treatment as well as the potential for prolonged skin discoloration.” 10-K for 2023
| Fiscal year ended | Severance costs |
|---|---|
| 2016-12-31 | $60.2 million |
| 2017-12-31 | $53 million |
| 2018-12-31 | $31.7 million |
Endo International filed 6 restructuring notices (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 Endo International’s annual reports (10-K for 2023, 10-K for 2022, 10-K for 2021) and the financial data it files with the SEC, as of 2024-03-06. 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.