Hanger layoffs, on the record
Every job cut, severance charge and restructuring Hanger reported in its annual reports, 2019 to 2021, quoted from the filings. Headcount went from approximately 4,800 to approximately 5,200.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2019 | approximately 4,800 | — |
| 10-K for 2020 | approximately 4,700 | As of December 31, 2020 |
| 10-K for 2021 | approximately 5,200 | December 31, 2021 |
Job cuts, severance and restructuring
Our summaryThe company said it is undertaking cost-reduction initiatives that include reducing back-office functions performed within patient care clinics and streamlining internal administrative processes. The filing gives no dates, headcount numbers, or charges for these initiatives.
Word for word“In addition, we are committed to reducing the cost of this care by undertaking several initiatives that include establishing device standards that provide the highest function, durability, and comfort at the lowest cost, reconfiguring our supply chain and fabrication processes, streamlining internal administrative processes, and reducing back-office functions performed within patient care clinics.” 10-K for 2019
Our summaryHanger cut senior leadership salaries and reduced employee wages during the COVID-19 Reduction Period instead of making a permanent reduction in force; exempt employee salaries were fully reinstated in September 2020.
Word for word“Throughout the Reduction Period, the salary reductions of our senior leadership team ranged from 15% to 100%, prior to the full reinstatement of all exempt employees’ salaries in September 2020.” 10-K for 2020
Our summaryHanger recorded higher severance costs in its Patient Care segment personnel costs compared with the prior year.
Word for word“offset by increases in incentive compensation and other personnel costs of $6.1 million and severance costs of $1.1 million compared to the same period in the prior year.” 10-K for 2020
Our summaryHanger recorded additional severance costs within general and administrative expenses compared with the prior year.
Word for word“and additional severance costs of $1.9 million, offset by decreases in salary expense of $6.2 million, as well as a decrease in travel and other expenses of $3.2 million.” 10-K for 2020
Hanger 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 Hanger’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 2022-02-28. 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.