Stratrix
On the Record · GNC Holdings

GNC Holdings layoffs, on the record

Every job cut, severance charge and restructuring GNC Holdings reported in its annual reports, 2017 to 2019, quoted from the filings. Headcount went from approximately 16,600 to approximately 12,400.

Headcount, as reported

Annual reportEmployeesAs of
10-K for 2017approximately 16,600December 31, 2017
10-K for 2018approximately 15,500December 31, 2018
10-K for 2019approximately 12,400December 31, 2019

Job cuts, severance and restructuring

  1. Our summaryFormer Chief Executive Officer departed, and the company recorded severance expense tied to that departure; the expense was recorded in the prior year. year ended December 31, 2016

    Word for word“During the year ended December 31, 2016 in connection with Mr. Archbold's departure, the company recognized $ 4.5 million in severance expense of which $ 2.3 million relates to the acceleration of non-cash stock-based compensation.” 10-K for 2017

  2. Our summaryThe company recorded severance expenses tied to an organizational realignment meant to better support key growth areas. 2018 · Cost: $0.9 million of severance expenses

    Word for word“(4) 2018 includes $1.3 million of legal-related charge and $0.9 million of severance expenses associated with the organizational realignment to more effectively align the structure in support of the key growth areas of the Company.” 10-K for 2018

  3. Our summaryThe company recorded severance expense tied to the departure of its former CEO. 2016

    Word for word“During the year ended December 31, 2016 in connection with Mr. Archbold's departure, the company recognized $4.5 million in severance expense of which $2.3 million related to the acceleration of non-cash stock-based compensation.” 10-K for 2018

  4. Our summaryThe company recorded a store closing-related cost. 2016 · Cost: $0.4 million store closing-related costs

    Word for word“2016 includes $5.1 million legal-related charges, $4.5 million of severance expense associated with the departure of the former CEO and $0.4 million store closing-related costs.” 10-K for 2018

  5. Our summaryThe company recorded severance expense in 2019 and 2018 tied to an organizational realignment to better support its key growth areas. current year and prior year · Cost: $0.5 million and $0.9 million

    Word for word“We incurred severance expense in the current year and prior year of $0.5 million and $0.9 million, respectively, associated with our 46 Table of Contents organizational realignment to more effectively align the structure in support of the key growth areas of the Company.” 10-K for 2019
As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year endedSeverance costs
2016-12-31$4.5 million
2017-12-31$4.5 million

GNC Holdings 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 GNC Holdings’s annual reports (10-K for 2019, 10-K for 2018, 10-K for 2017) and the financial data it files with the SEC, as of 2020-03-25. 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.