GCP Applied Technologies layoffs, on the record
Every job cut, severance charge and restructuring GCP Applied Technologies reported in its annual reports, 2019 to 2021, quoted from the filings.
Job cuts, severance and restructuring
Our summaryThe company approved a 2021 restructuring plan that includes moving its headquarters to the Atlanta area, closing the Cambridge campus, consolidating other facilities and offices, and redesigning the organization to lower costs.
Word for word“In March 2021, the Board approved a business restructuring and repositioning plan related to the relocation of the Company’s corporate headquarters to the Atlanta, Georgia area, the closure of its Cambridge, Massachusetts campus, the build-out of new R&D locations near the Boston/Cambridge area, as well as the consolidation of other regional facilities and offices, including an organizational redesign, which is expected to lower costs.” 10-K for 2021
Our summaryThe company reported the costs it has incurred so far under the 2021 Restructuring Plan and the total costs it expects.
Word for word“2021 Restructuring Plan Cumulative costs incurred under the 2021 Restructuring Plan since its inception were $30.9 million with expected total costs of $32 million-$36 million.” 10-K for 2021
Our summaryThe company reported the costs incurred under its 2019 Phase 2 Restructuring and Repositioning Plan.
Word for word“Cumulative costs incurred under the 2019 Phase 2 Plan since its inception were $33.7 million.” 10-K for 2021
Our summaryThe company reported the costs incurred under its 2019 Restructuring and Repositioning Plan.
Word for word“Cumulative costs incurred under the 2019 Plan since its inception were $12.6 million.” 10-K for 2021
Our summaryThe company said it announces restructuring plans from time to time that include workforce reductions, and that it announced plans in 2021 and 2019.
Word for word“We announced restructuring plans in 2021 and 2019 and may undertake further workforce reductions or restructuring actions in the future.” 10-K for 2021
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2016-12-31 | $1.9 million | $15.3 million | — |
| 2017-12-31 | — | $9.8 million | — |
| 2018-12-31 | $10.1 million | $9.6 million | — |
| 2019-12-31 | $4.1 million | $30.3 million | — |
| 2020-12-31 | $22.3 million | $30.3 million | $13.2 million |
| 2021-12-31 | — | $33.3 million | $27.6 million |
GCP Applied Technologies filed 5 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 GCP Applied Technologies’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.