Farfetch layoffs, on the record
Every job cut, severance charge and restructuring Farfetch reported in its annual reports, 2020 to 2022, quoted from the filings. Headcount went from 5,441 to 6,728.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 20-F for 2020 | 5,441 | December 31, 2020 |
| 20-F for 2021 | 6,464 | December 31, 2021 |
| 20-F for 2022 | 6,728 | December 31, 2022 |
Job cuts, severance and restructuring
Our summaryThe company launched cost rationalization initiatives to restructure its fixed cost base, move headcount to strategic projects, and cut headcount in other areas.
Word for word“In 2022, we launched a number of cost rationalization initiatives for the purpose of optimizing our cost base.” 20-F for 2022
Our summaryThe company reduced headcount during 2022 and recorded severance-related restructuring costs, with more expected in 2023.
Word for word“In implementing headcount reductions during 2022, we incurred restructuring costs of $4.8 million relating to severance payments and expect further restructuring costs to be recognized in 2023.” 20-F for 2022
Farfetch 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 Farfetch’s annual reports (20-F for 2022, 20-F for 2021, 20-F for 2020) and the financial data it files with the SEC, as of 2023-03-08. 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.