Home Point Capital layoffs, on the record
Every job cut, severance charge and restructuring Home Point Capital reported in its annual reports, 2020 to 2022, quoted from the filings. Headcount went from approximately 3,500 to approximately 3,200.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2020 | approximately 3,500 | December 31, 2020 |
| 10-K for 2021 | approximately 3,200 | December 31, 2021 |
Job cuts, severance and restructuring
Our summaryThe Board approved restructuring actions in August 2022 to enhance liquidity and cut costs after origination volume fell, causing $14.2 million of severance, retention and termination expense.
Word for word“In August 2022, the Board approved the restructuring actions, which resulted in $ 14.2 million expense for cash severance and related benefits, retention, and termination costs in Compensation and benefits in the consolidated statements of operations for the year ended December 31, 2022.” 10-K for 2022
Our summaryThe restructuring also included a write-down and write-off of office equipment.
Word for word“The restructuring actions also included charges related to the write-down and write-off of office equipment totaling $ 2.3 million in Other expenses in the consolidated statement of operations for the year ended December 31, 2022.” 10-K for 2022
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2022-12-31 | $16.5 million | $14.2 million |
Home Point Capital 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 Home Point Capital’s annual reports (10-K for 2022, 10-K for 2021, 10-K for 2020) and the financial data it files with the SEC, as of 2023-03-09. 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.