EXP OldCo Winddown layoffs, on the record
Every job cut, severance charge and restructuring EXP OldCo Winddown reported in its annual reports, 2022 to 2024, quoted from the filings. Headcount went from approximately 10,000 to approximately 10,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | approximately 10,000 | — |
| 10-K for 2023 | approximately 11,000 | — |
| 10-K for 2024 | approximately 10,000 | February 3, 2024 |
Job cuts, severance and restructuring
Our summaryThe company recorded restructuring and related reorganization charges tied to its new strategy and a restructuring of its workforce, primarily for employee severance, benefits and professional fees.
Word for word“In the fourth quarter of 2019, in connection with the announcement with the Company’s new strategy and the restructuring of the Company’s work force to align to this strategy, the Company recognized $ 7.3 million in restructuring and related reorganization charges.” 10-K for 2022
Our summaryThe company announced and carried out two phases of a workforce reduction in 2023.
Word for word“Restructuring Costs On July 14, 2023 and August 17, 2023, the Company announced and implemented respective phases of a workforce reduction.” 10-K for 2024
Our summaryThe company recorded restructuring and related reorganization charges tied to its workforce restructuring, mostly for severance and benefits.
Word for word“During 2023, in connection with the restructuring of the Company’s work force, the Company recognized $ 4.7 million in restructuring and related reorganization charges with $ 2.7 million recorded in cost of goods sold, buying and occupancy costs and $ 2.0 million recorded in selling, general and administrative expense in the Consolidated Statements of Income and Comprehensive Income.” 10-K for 2024
Our summaryThe company cut staff in its corporate office as part of its expense savings initiatives.
Word for word“The decrease was primarily driven by our expense savings initiatives, including reductions in marketing spend, store labor costs, and a reduction in force in our corporate office that was implemented during the third quarter of 2023, as well as lower long-term incentive compensation.” 10-K for 2024
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2018-02-03 | $22.9 million | $5.4 million |
| 2019-02-02 | $166,000 | — |
| 2020-02-01 | $7.3 million | — |
| 2021-01-30 | $0 | — |
| 2022-01-29 | $0 | — |
| 2024-02-03 | $4.7 million | — |
EXP OldCo Winddown filed 2 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 EXP OldCo Winddown’s annual reports (10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2024-12-31. 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.