Everlake Life Insurance layoffs, on the record
Every job cut, severance charge and restructuring Everlake Life Insurance reported in its annual reports, 2017 to 2019, quoted from the filings.
Job cuts, severance and restructuring
Our summaryRecorded restructuring and related charges in the statement of operations, with a smaller amount the prior year.
Word for word“Restructuring and related charges 2 1 — Interest expense 4 15 16 2,508 2,433 2,563” 10-K for 2017
Our summaryThe income statement shows a line for restructuring and related charges in each year, but the filing excerpt gives no detail on any layoff, workforce reduction, or severance program.
Word for word“Restructuring and related charges (2 ) (2 ) (1 ) Interest expense (5 ) (4 ) (15 ) Total costs and expenses (2,471 ) (2,548 ) (2,478 ) Gain on disposition of operations 6 7 5 Income tax (expense) benefit (17 ) 278 (144 ) Net income $ 365 $ 996 $ 319 Net income was $365 million in 2018 compared to $996 million in 2017 .” 10-K for 2018
| Fiscal year ended | Restructuring charges |
|---|---|
| 2016-12-31 | $1 million |
| 2017-12-31 | $2 million |
| 2018-12-31 | $2 million |
| 2019-12-31 | $1 million |
Everlake Life Insurance 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 Everlake Life Insurance’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 2020-02-28. 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.