Genesee & Wyoming layoffs, on the record
Every job cut, severance charge and restructuring Genesee & Wyoming reported in its annual reports, 2016 to 2018, quoted from the filings. Headcount went from approximately 7,300 to approximately 8,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2016 | approximately 7,300 | As of December 31, 2016 |
| 10-K for 2017 | approximately 8,000 | December 31, 2017 |
| 10-K for 2018 | approximately 8,000 | December 31, 2018 |
Job cuts, severance and restructuring
Our summaryRestructuring plan for ERS (European intermodal business): ceased open train services from Rotterdam and closed ERS offices in Rotterdam, Frankfurt and the customer services function in Warsaw.
Word for word“As such, a restructuring plan was initiated that includes the cessation of all "open" train services from the port of Rotterdam, the closing of the ERS offices in Rotterdam and Frankfurt and the closing of the ERS customer services function in Warsaw.” 10-K for 2016
Our summaryRestructuring of the U.K. coal business, including workforce restructuring with severance and related costs.
Word for word“These charges included $10.5 million associated with leased railcars that exceed our expected ongoing needs and were taken out of service, which was recorded to equipment rents within operating expenses, as well as $4.2 million of severance and related costs associated with restructuring our workforce.” 10-K for 2016
Our summaryCompany-wide restructuring costs, primarily in U.K./European Operations, consolidating three North American operating regions into two and related restructuring of Australian operations.
Word for word“During 2016, the Company incurred restructuring costs of $8.2 million , including $6.5 million in our U.K./European Operations, $0.9 million in our North American Operations and $0.8 million in our Australian Operations.” 10-K for 2016
Our summaryExpected restructuring of the Continental Europe intermodal business in 2017, which is expected to increase operating income costs in 2017.
Word for word“as well as the planned restructuring costs associated with the Continental Europe intermodal business.” 10-K for 2016
Our summaryCompany recorded restructuring costs for its U.K./European Operations, primarily tied to the ERS restructuring, consisting mainly of severance and surplus locomotive and railcar lease costs.
Word for word“For the year ended December 31, 2017 , we recorded $5.7 million of restructuring costs related to ERS, primarily for severance costs and costs associated with surplus locomotive and railcar leases.” 10-K for 2017
Our summaryCompany ceased open train services from Rotterdam, closed ERS offices in Rotterdam and Frankfurt, and closed the ERS customer services function in Warsaw as part of restructuring ERS.
Word for word“In conjunction with that plan, in 2017, we ceased all "open" train services from the port of Rotterdam, closed the ERS offices in Rotterdam and Frankfurt and the ERS customer services function in Warsaw.” 10-K for 2017
Our summaryCompany recorded integration costs at Providence and Worcester Railroad, mainly severance costs.
Word for word“We incurred $3.1 million of integration costs associated with Providence and Worcester Railroad during the year ended December 31, 2017 , of which $2.7 million was included within labor and benefits expense primarily for severance costs and $0.4 million was included within other expenses in our consolidated statement of operations within our North American Operations.” 10-K for 2017
Our summaryCompany restructured its U.K. coal business, including workforce restructuring with severance costs, and reduced headcount; a prior-year accrual was partly reversed in 2017.
Word for word“These charges included $10.5 million associated with leased railcars that exceed our expected ongoing needs and were permanently taken out of service, which was recorded to equipment rents within operating expenses, as well as $4.2 million of severance and related costs associated with restructuring our workforce.” 10-K for 2017
Our summaryAnnounced and began a program to restructure and optimize its U.K. operations, running through 2020, with expected costs of about $32 million.
Word for word“Restructuring and related costs associated with the optimization are expected to be approximately $32 million .” 10-K for 2018
Our summaryIncurred severance costs tied to integrating Providence and Worcester Railroad.
Word for word“We incurred $3.1 million of integration costs associated with Providence and Worcester Railroad during the year ended December 31, 2017 , of which $2.7 million was included within labor and benefits expense primarily for severance costs and $0.4 million was included within other expenses in our consolidated statement of operations.” 10-K for 2018
| Fiscal year ended | Restructuring charges |
|---|---|
| 2016-12-31 | $8.2 million |
| 2017-12-31 | $10.2 million |
| 2018-12-31 | $15.1 million |
Genesee & Wyoming 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 Genesee & Wyoming’s annual reports (10-K for 2018, 10-K for 2017, 10-K for 2016) and the financial data it files with the SEC, as of 2019-02-26. 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.