GUE Liquidation Companies layoffs, on the record
Every job cut, severance charge and restructuring GUE Liquidation Companies reported in its annual reports, 2016 to 2018, quoted from the filings. Headcount went from 1,528 to 1,333.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2016 | 1,528 | December 31, 2016 |
| 10-K for 2017 | 1,501 | December 31, 2017 |
| 10-K for 2018 | 1,333 | As of December 31, 2018 |
Job cuts, severance and restructuring
Our summaryRecorded restructuring and other exit costs primarily tied to senior management changes, including severance and accelerated vesting of equity awards, plus consolidation of certain office and distribution facilities for Provide Commerce.
Word for word“During the year ended December 31, 2016 , the Company incurred restructuring and other exit costs of $11.8 million , primarily related to senior management changes, including expenses for severance and related accelerated vesting of equity awards.” 10-K for 2016
Our summaryRecorded 2016 restructuring charges for employee termination costs, facility closure costs and asset impairments, with employee termination costs of $8.9 million.
Word for word“Charges 8,918 1,942 898 11,758 Cash paid (404 ) (1,970 ) — (2,374 ) Other adjustments 12 (46 ) (898 ) (932 ) Accrued as of December 31, 2016 $ 8,566 $ 1,378 $ — $ 9,944 During the year ended December 31, 2016 , the Company incurred restructuring and other exit costs of $11.8 million primarily related to senior management changes and related accelerated vesting of equity awards.” 10-K for 2016
Our summaryClosure of Provide Commerce developing businesses and certain distribution and call center locations, with related restructuring costs in 2015.
Word for word“During the year ended December 31, 2015 , we incurred restructuring and other exit costs of $6.1 million , primarily related to the closure of the Provide Commerce developing businesses and certain distribution and call center locations.” 10-K for 2016
Our summaryCompany recorded restructuring and other exit costs in 2017, mainly for employee termination and facility closure costs.
Word for word“During the year ended December 31, 2017 , the Company incurred restructuring and other exit costs of $2.2 million , primarily related to employee termination and facility closure costs.” 10-K for 2017
Our summaryThe company announced a corporate restructuring and cost savings plan and expects to incur restructuring and reorganization costs over the plan.
Word for word“In conjunction with the corporate restructuring and cost savings plan, we currently expect to incur restructuring and corporate reorganization costs ranging between approximately $28.0 million and approximately $32.0 million.” 10-K for 2018
Our summaryThe company recorded restructuring costs in the second half of 2018, including cash severance and accelerated vesting of equity awards.
Word for word“During the second half of 2018, we incurred restructuring costs of $18.2 million, which included employee severance costs to be paid in cash of $12.7 million and non-cash stock-based compensation related to the acceleration of certain equity awards of $5.5 million.” 10-K for 2018
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2016-12-31 | — | $11.8 million | $2.4 million |
| 2017-12-31 | — | $2.2 million | $8.4 million |
| 2018-12-31 | $12.7 million | $18.2 million | $4.5 million |
GUE Liquidation Companies 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 GUE Liquidation Companies’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 2019-03-18. 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.