Endurance International Group Holdings layoffs, on the record
Every job cut, severance charge and restructuring Endurance International Group Holdings reported in its annual reports, 2017 to 2019, quoted from the filings. Headcount went from 3,664 to 3,762.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2017 | 3,664 | December 31, 2017 |
| 10-K for 2018 | 3,901 | December 31, 2018 |
| 10-K for 2019 | 3,762 | December 31, 2019 |
Job cuts, severance and restructuring
Our summaryIn January 2017 the company announced plans to close certain offices and consolidate web presence customer support operations, with severance costs for eliminating about 660 positions, mainly in customer support.
Word for word“In January 2017, the Company announced plans to close certain offices as part of a plan to consolidate certain web presence customer support operations, resulting in severance costs.” 10-K for 2017
Our summaryAdditional restructuring plans tied to the Constant Contact acquisition eliminated positions and caused further severance charges; together with the customer support plan these formed the 2017 Restructuring Plan, with total 2017 severance costs of $13.1 million.
Word for word“For the year ended December 31, 2017 , in connection with these plans (together, the “2017 Restructuring Plan”), the Company incurred severance costs of $13.1 million and paid $9.4 million .” 10-K for 2017
Our summaryThe 2017 Restructuring Plan closed offices in Orem, Utah and relocated employees to Tempe, Arizona, with facility charges.
Word for word“During the year ended December 31, 2017 , the Company incurred facility charges of $1.3 million .” 10-K for 2017
Our summaryUnder the 2016 Restructuring Plan, following the Constant Contact acquisition, the company eliminated positions across the business; all severance payments were complete by December 31, 2017, with $1.6 million paid in 2017.
Word for word“The severance charges were associated with eliminating approximately 265 positions across the business.” 10-K for 2017
Our summaryUnder the 2016 Restructuring Plan the company closed offices in several cities and relocated employees to Austin, and paid facility costs in 2017.
Word for word“The Company paid $4.6 million of facility costs related to the 2016 Restructuring Plan during the year ended December 31, 2017 and had a remaining accrued facility liability of $5.6 million as of December 31, 2017.” 10-K for 2017
Our summaryTotal restructuring charges recorded in 2017 across all restructuring plans, by line of operations.
Word for word“Total severance charges $ 1,489 $ 24,224 $ 15,810 16.” 10-K for 2017
Our summaryAnnounced the 2018 Restructuring Plan to eliminate positions, mainly in Asia Pacific and to a lesser extent the U.S., and closed offices in Ohio.
Word for word“In January 2018, the Company announced plans to eliminate approximately 71 positions, later increased to approximately 95 positions, primarily in the Asia Pacific region and to a lesser extent in the U.S., in order to streamline operations and create operational efficiencies (the "2018 Restructuring Plan").” 10-K for 2018
Our summaryContinued the 2017 Restructuring Plan to consolidate web presence customer support operations and close offices in Orem, Utah, including Constant Contact related eliminations; no additional severance was incurred in 2018.
Word for word“These severance charges were associated with the elimination of approximately 660 positions, primarily in customer support.” 10-K for 2018
Our summaryRecorded total restructuring charges across all plans, by function.
Word for word“The following table presents restructuring charges recorded in the consolidated statement of operations and comprehensive income (loss) for the periods presented: For the Year Ended December 31, 2016 2017 2018 (in thousands) Cost of revenue $ 8,986 $ 4,100 $ 1,385 Sales and marketing 6,550 3,586 110 Engineering and development 4,288 1,469 348 General and administrative 4,400 6,655 1,525 Total restructuring charges $ 24,224 $ 15,810 $ 3,368 17.” 10-K for 2018
| Fiscal year ended | Severance costs | Restructuring charges |
|---|---|---|
| 2016-12-31 | $24.2 million | $24.2 million |
| 2017-12-31 | $15.8 million | $15.8 million |
| 2018-12-31 | — | $3.4 million |
| 2019-12-31 | — | $2 million |
Endurance International Group Holdings filed 1 restructuring notice (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 Endurance International Group Holdings’s annual reports (10-K for 2019, 10-K for 2018, 10-K for 2017) and the financial data it files with the SEC, as of 2020-02-14. 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.