Heidrick & Struggles International layoffs, on the record
Every job cut, severance charge and restructuring Heidrick & Struggles International reported in its annual reports, 2022 to 2024, quoted from the filings. Headcount went from 2,141 to 2,201.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | 2,141 | December 31, 2022 |
| 10-K for 2023 | 2,212 | As of December 31, 2023 |
| 10-K for 2024 | 2,201 | December 31, 2024 |
Job cuts, severance and restructuring
Our summaryCompany announced a 2020 restructuring plan with a workforce reduction, real estate and professional fee reductions, and elimination of certain deferred compensation programs; no charges were incurred under it in 2022.
Word for word“In 2020, the Company announced a restructuring plan (the "2020 Plan") to optimize future growth and profitability.” 10-K for 2022
Our summaryCompany recorded restructuring charges primarily tied to reducing its real estate footprint under the 2020 Plan, with a lease termination settled in September 2021.
Word for word“The Company incurred $3.8 million in restructuring charges in 2021.” 10-K for 2022
Our summaryCompany recorded employee-related restructuring reversals in 2021 from settlement of estimated severance accruals in Europe, Asia Pacific and Global Operations Support.
Word for word“Restructuring reversals for 2021 were $0.1 million due to the settlement of estimated employee severance accruals.” 10-K for 2022
Our summaryCompany reported no restructuring charges or reversals in 2022.
Word for word“There were no restructuring charges or reversals in 2022.” 10-K for 2022
Our summaryThe company reported that it did not incur any charges under the 2020 Plan in 2022 or 2023 and does not expect future charges under it.
Word for word“The Company did not incur any charges under the 2020 Plan during the years ended December 31, 2022, and 2023, and does not anticipate incurring any future charges under the 2020 Plan.” 10-K for 2023
Our summaryThe company recorded reorganization costs in 2023 as an adjustment in its Adjusted EBITDA reconciliation.
Word for word“Reorganization costs 4,886 — — Impairment charges 7,246 — — Restructuring charges — — 3,792 Total adjustments 50,260 8,612 30,724 Adjusted EBITDA $ 125,617 $ 120,878 $ 128,988 Adjusted EBITDA margin 12.2 % 11.3 % 12.9 %” 10-K for 2023
Our summaryThe company put in place a 2024 restructuring plan that cut its workforce to improve future growth and profitability.
Word for word“During the year ended December 31, 2024, the Company implemented a restructuring plan (the "2024 Plan") to optimize future growth and profitability through a workforce reduction.” 10-K for 2024
Our summaryThe company reported that its 2020 restructuring plan, which included a workforce reduction, has had no charges in 2022 through 2024 and none are expected.
Word for word“The primary components of the 2020 Plan included a workforce reduction, a reduction of the Company's real estate expenses and professional fees, and the elimination of certain deferred compensation programs.” 10-K for 2024
Our summaryThe company recorded $2.5 million of restructuring accruals for the 2024 Plan in other current liabilities at year end.
Word for word“Restructuring accruals of $ 2.5 million associated with the 2024 Plan are recorded within Other current liabilities in the Consolidated Balance Sheets as of December 31, 2024.” 10-K for 2024
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-12-31 | $0 | $0 |
| 2017-12-31 | $15.7 million | $2.5 million |
| 2018-12-31 | $0 | $9.9 million |
| 2019-12-31 | $4.1 million | $2.2 million |
| 2020-12-31 | $52.4 million | $12.3 million |
| 2021-12-31 | $3.8 million | $14.5 million |
| 2022-12-31 | $0 | $4.9 million |
| 2023-12-31 | $0 | $3.5 million |
| 2024-12-31 | $6.9 million | $4.3 million |
Heidrick & Struggles International filed 1 restructuring notice (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 Heidrick & Struggles International’s annual reports (10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2025-03-03. 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.