Ferro layoffs, on the record
Every job cut, severance charge and restructuring Ferro reported in its annual reports, 2019 to 2021, quoted from the filings. Headcount went from 5,922 to 5,615.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2019 | 5,922 | December 31, 2019 |
| 10-K for 2020 | 5,615 | At December 31, 2020 |
Job cuts, severance and restructuring
Our summaryCompany reported total employment decreased in foreign subsidiaries and in the U.S. from the prior year end, primarily due to cost optimization initiatives.
Word for word“Total employment decreased by 21 in our foreign subsidiaries and decreased by 116 in the U.S. from the prior year end primarily due to our cost optimization initiatives.” 10-K for 2019
Our summaryCompany reported restructuring and impairment charges for 2019, with employee severance of $7,163 thousand and other restructuring costs of $3,792 thousand, driven by higher employee costs from recent optimization programs.
Word for word“Restructuring and impairment charges increased $3.8 million in 2019, compared with 2018.” 10-K for 2019
Our summaryCompany reported restructuring and impairment charges for 2018, including employee severance of $3,560 thousand.
Word for word“Restructuring and impairment charges decreased $1.4 million in 2018, compared with 2017.” 10-K for 2019
Our summaryTotal employment fell in foreign subsidiaries and in the U.S. from the prior year end, mainly due to cost optimization initiatives.
Word for word“Total employment decreased by 151 in our foreign subsidiaries and decreased by 156 in the U.S. from the prior year end primarily due to our cost optimization initiatives.” 10-K for 2020
Our summaryRecorded employee severance and other restructuring costs under restructuring and impairment charges, mainly tied to the Global Optimization and Organizational Optimization Plans.
Word for word“Restructuring and impairment charges increased $6.5 million in 2020, compared with 2019.” 10-K for 2020
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-12-31 | $2.7 million | $2.7 million |
| 2017-12-31 | $7 million | $3.3 million |
| 2018-12-31 | $7.1 million | $4.3 million |
| 2019-12-31 | $11 million | $8.8 million |
| 2020-12-31 | $17.4 million | $8.9 million |
| 2021-12-31 | $14.4 million | $10.3 million |
Ferro 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 Ferro’s annual reports (10-K for 2021, 10-K for 2020, 10-K for 2019) and the financial data it files with the SEC, as of 2022-03-01. 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.