Hill-Rom Holdings layoffs, on the record
Every job cut, severance charge and restructuring Hill-Rom Holdings reported in its annual reports, 2019 to 2021, quoted from the filings. Headcount went from approximately 10,000 to approximately 10,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2019 | approximately 10,000 | As of September 30, 2019 |
| 10-K for 2020 | approximately 10,000 | As of September 30, 2020 |
| 10-K for 2021 | approximately 10,000 | September 30, 2021 |
Job cuts, severance and restructuring
Our summaryThe company recorded business optimization and realignment charges in fiscal 2019, of which most were severance and benefit costs.
Word for word“In fiscal 2019, we incurred total business optimization and realignment charges of approximately $ 21.1 million , of which $ 12.9 million were severance and benefit costs with the remainder related to professional fees and project management costs.” 10-K for 2019
Our summaryThe company recorded site consolidation charges in fiscal 2019, including some severance and benefit costs, to consolidate manufacturing and distribution operations.
Word for word“In fiscal 2019, we recorded total charges of $ 7.3 million , related to these efforts, of which $ 1.8 million were severance and benefit costs.” 10-K for 2019
Our summaryThe company recorded restructuring reserve activity for severance and other benefits during fiscal 2019, with expenses of 16.4 and cash payments of 15.1.
Word for word“The reserve activity for severance and other benefits in fiscal 2019 and 2018 was as follows: Balance as of September 30, 2017 $ 9.0 Expenses 21.3 Cash Payments ( 20.9 ) Reversals ( 0.9 ) Balance as of September 30, 2018 8.5 Expenses 16.4 Cash Payments ( 15.1 ) Reversals ( 1.3 ) Balance as of September 30, 2019 $ 8.5” 10-K for 2019
Our summaryThe company completed a restructuring in Europe to reduce European manufacturing capacity and streamline operations, with costs that ended with fiscal 2017.
Word for word“The restructuring in Europe to reduce our European manufacturing capacity and to streamline our operations is complete and, in fiscal 2017, we recorded Special charges of $ 0.9 million for legal and professional fees, temporary labor, project management, severance and benefit costs, and other administrative functions.” 10-K for 2019
Our summaryThe company sold its Architectural Products business and recorded expense primarily related to severance.
Word for word“In fiscal 2017, we sold our Architectural Products business and recorded $ 1.1 million of expense, primarily related to severance, in Special charges (Note 3).” 10-K for 2019
Our summaryOn September 15, 2020, the company committed to a workforce reduction plan that includes a voluntary retirement program and involuntary severance actions.
Word for word“On September 15, 2020, we committed to a workforce reduction plan, which includes a voluntary retirement program and involuntary severance actions.” 10-K for 2020
Our summaryThe company incurred costs for the workforce reduction plan within Special charges in fiscal 2020, with substantially all remaining costs expected in fiscal 2021.
Word for word“For the fiscal year ended September 30, 2020, we have incurred $ 6.7 million related to this initiative within Special charges.” 10-K for 2020
Our summaryThe company recorded Special charges for restructuring actions, including severance and related benefits, lease termination fees, asset write-downs and temporary labor, with a severance and benefits reserve activity table.
Word for word“In connection with various transformative initiatives, restructuring and exit activities, and organizational changes to improve our business alignment and cost structure we recognized Special charges of $41.5 million for the fiscal year ended September 30, 2020, compared to $28.4 million for the fiscal year ended September 30, 2019.” 10-K for 2020
Our summaryThe company recorded integration-related activity costs, including severance and benefit costs, tied to business realignment and acquisitions.
Word for word“We incurred costs, including severance and benefit costs, associated with business realignment and integration activities focused on reducing complexity, increasing efficiency, and improving our cost structure.” 10-K for 2020
Our summaryThe company recorded site consolidation and other cost optimization charges, including related severance cost, as it streamlined operations and consolidated manufacturing and distribution.
Word for word“We continue to streamline our operations and simplify our supply chain by transforming and consolidating certain manufacturing and distribution operations.” 10-K for 2020
Our summaryThe company recorded charges for its workforce reduction plan in fiscal 2021 and fiscal 2020.
Word for word“For the fiscal years ended September 30, 2021 and 2020, we incurred $ 25.6 million and $ 6.7 million related to this initiative within Special charges.” 10-K for 2021
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-09-30 | $23.3 million | $32.6 million |
| 2017-09-30 | $9.7 million | $14.3 million |
| 2018-09-30 | $21.3 million | $20.9 million |
| 2019-09-30 | $16.4 million | $15.1 million |
| 2020-09-30 | $14.6 million | $11.1 million |
| 2021-09-30 | $23.7 million | $27.1 million |
Hill-Rom Holdings filed 4 restructuring notices (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 Hill-Rom Holdings’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 2021-11-12. 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.