Hillman Companies layoffs, on the record
Every job cut, severance charge and restructuring Hillman Companies reported in its annual reports, 2018 to 2020, quoted from the filings. Headcount went from 3,772 to 3,780.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2018 | 3,772 | December 29, 2018 |
| 10-K for 2019 | 3,764 | As of December 28, 2019 |
| 10-K for 2020 | 3,780 | December 26, 2020 |
Job cuts, severance and restructuring
Our summaryRestructured the Canada segment operations in the greater Toronto area by consolidating facilities, exiting certain lines of business, and rationalizing SKUs.
Word for word“We incurred charges of $8.3 million , net of a gain of $6.1 million on the sale of a building, in the year ended December 29, 2018 , and expect to incur additional restructuring related charges and capital expenditures in our Canada segment over the next year as we finalize and implement the plan.” 10-K for 2018
Our summaryRecorded severance expense under the Canada restructuring related to exiting a manufacturing business line, of which $1,212 thousand was paid during 2018.
Word for word“During the year ended December 29, 2018 , the Company paid approximately $1,212 in severance and related expense.” 10-K for 2018
Our summaryRestructured management and operations of the U.S. business to achieve synergies and cost savings from recent acquisitions, with charges mainly for inventory valuation and severance.
Word for word“We incurred charges of $9.5 million in the year ended December 28, 2019 , primarily related to inventory valuation adjustments and severance (see Note 14 - Restructuring of the Notes to Consolidated Financial Statements for additional details).” 10-K for 2019
Our summaryU.S. restructuring plan severance recorded, with $3,820 thousand severance expense and $534 thousand paid in cash.
Word for word“During the year ended December 28, 2019 , the Company paid approximately $ 534 in severance and related expense related to the United States Restructuring Plan.” 10-K for 2019
Our summaryCanada restructuring plan consolidated facilities, exited lines of business and rationalized SKUs, with severance charges.
Word for word“The restructuring seeks to streamline operations in the greater Toronto area by consolidating facilities, exiting certain lines of business, and rationalizing stock keeping units (“SKUs”).” 10-K for 2019
Our summaryIncurred severance and related charges tied to corporate restructuring activities within general and administrative expenses.
Word for word“Additionally, we incurred severance and related charges of $3.9 million related to corporate restructuring activities (see Note 14 - Restructuring of the Notes to Consolidated Financial Statements for additional information).” 10-K for 2019
Our summaryIncurred severance and related charges tied to corporate restructuring in the Fastening, Hardware, and Personal Protective Solutions segment.
Word for word“Additionally, we incurred severance and related charges of $3.2 million related to corporate restructuring activities (see Note 14 - Restructuring of the Notes to Consolidated Financial Statements for additional information).” 10-K for 2019
Our summaryThe company began a plan to restructure the management and operations of its U.S. business, including management realignment and integration of sales and operations functions, to gain synergies and cost savings.
Word for word“In the fourth quarter of 2019, the Company implemented a plan to restructure the management and operations of our U.S. business to achieve synergies and cost savings associated with the recent acquisitions.” 10-K for 2020
Our summaryThe company started a restructuring of its Canada segment to consolidate facilities, exit certain lines of business and rationalize SKUs.
Word for word“During fiscal 2018, the Company initiated plans to restructure the operations of the Canada segment.” 10-K for 2020
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2018-12-29 | $8.3 million | $1.2 million |
Hillman 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 Hillman Companies’s annual reports (10-K for 2020, 10-K for 2019, 10-K for 2018) and the financial data it files with the SEC, as of 2021-03-03. 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.