Engility Holdings layoffs, on the record
Every job cut, severance charge and restructuring Engility Holdings reported in its annual reports, 2015 to 2017, quoted from the filings. Headcount went from approximately 9,800 to approximately 8,700.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2015 | approximately 9,800 | December 31, 2015 |
| 10-K for 2016 | over 9,100 | As of December 31, 2016 |
| 10-K for 2017 | approximately 8,700 | December 31, 2017 |
Job cuts, severance and restructuring
Our summaryIn 2015, during integration of TASC, the company incurred restructuring costs that included costs related to workforce reduction.
Word for word“During the year ended December 31, 2015 in conjunction with the integration of TASC, we incurred $21 million in restructuring costs, including costs related to workforce reduction which will be paid out over the next 12 months, and other costs to include contract and lease termination fees which will be paid out through fiscal year 2020.” 10-K for 2015
Our summaryDuring integration of DRC and a move to a customer focused model, the company incurred restructuring costs that included costs related to workforce reduction.
Word for word“During the year ended December 31, 2014 in conjunction with the integration of DRC, and our move to a customer focused model, we incurred $1 million in restructuring costs, including costs related to workforce reduction.” 10-K for 2015
Our summaryThe company announced a strategic realignment and streamlining of operations that reduced its total workforce by 4% through a voluntary separation program and additional reductions in force, completed in the first quarter of 2013.
Word for word“During 2012, we announced a strategic realignment of our organizational structure and a streamlining of our operations, which we completed in the first quarter of 2013.” 10-K for 2015
Our summaryRestructuring liability activity for severance and related costs and other restructuring costs was reported for 2013 through 2015, including 2015 additions of $21,090 thousand total.
Word for word“Additions 14,614 6,476 21,090 Cash payments (10,976 ) (3,041 ) (14,017 ) Balance as of December 31, 2015 $ 4,006 $ 9,471 $ 13,477 74 ENGILITY HOLDINGS, INC.” 10-K for 2015
Our summaryCompany recorded 2016 restructuring costs, including severance, related to the integration of TASC and DRC acquisitions.
Word for word“During the year ended December 31, 2016, we incurred $12 million in restructuring costs, including severance which will be paid out by the first quarter of 2017 and other costs to include lease termination fees which were paid out by the end of 2016.” 10-K for 2016
Our summaryCompany's severance and related restructuring liability was additions of $9,357 thousand in 2016 and cash payments of $12,059 thousand in 2016, with total additions of $11,543 thousand in 2016.
Word for word“Additions 9,357 2,186 11,543 Cash payments (12,059 ) (6,704 ) (18,763 ) Other adjustments — (2,429 ) (2,429 ) Balance as of December 31, 2016 $ 1,304 $ 2,524 $ 3,828 Restructuring and integration costs are contained within the selling, general and administrative expense line in the accompanying consolidated statement of operations.” 10-K for 2016
Our summaryBoard approved amendments to the company's Severance Plan and Change in Control Severance Plan, effective May 15, 2017.
Word for word“On March 7, 2017, our board of directors approved amendments and restatements (collectively, the “Plan Amendments”) to each of our Severance Plan and Change in Control Severance Plan (the “Plans”).” 10-K for 2016
Our summaryThe company incurred lease termination fees in 2017 that were paid out by the end of that year.
Word for word“During 2017, we incurred $2 million in lease termination fees which were paid out by the end of 2017.” 10-K for 2017
| Fiscal year ended | Cash paid for restructuring |
|---|---|
| 2016-12-31 | $18.8 million |
| 2017-12-31 | $4.8 million |
Engility 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 Engility 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 2018-03-02. 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.