Stratrix
On the Record · Hostess Brands

Hostess Brands layoffs, on the record

Every job cut, severance charge and restructuring Hostess Brands reported in its annual reports, 2020 to 2022, quoted from the filings. Headcount went from approximately 3,000 to approximately 2,800.

Headcount, as reported

Annual reportEmployeesAs of
10-K for 2020approximately 3,000December 31, 2020
10-K for 2021approximately 2,600December 31, 2021
10-K for 2022approximately 2,800December 31, 2022

Job cuts, severance and restructuring

  1. Our summaryTransitioned Voortman from a direct-to-store delivery model to a direct-to-warehouse model, incurring severance and contract termination costs. 2020 · Cost: Total costs were $ 12.9 million through completion of the transition in 2020.

    Word for word“Total costs were $ 12.9 million through completion of the transition in 2020.” 10-K for 2020

  2. Our summaryRecognized severance costs tied to exiting Voortman's direct-store-delivery model. During the year ended December 31, 2020 · Cost: severance costs of $ 4.6 million

    Word for word“During the year ended December 31, 2020, severance costs of $ 4.6 million, were recognized within general and administrative expenses on the consolidated statement of operations.” 10-K for 2020

  3. Our summaryRecognized contract termination costs with independent distributors and leasing relationships in exiting Voortman's model. During the year ended December 31, 2020 · Cost: contract termination costs of $ 8.3 million

    Word for word“During the year ended December 31, 2020, contract termination costs of $ 8.3 million were recognized in selling expense on the consolidated statement of operations.” 10-K for 2020
As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year endedSeverance costsRestructuring chargesCash paid for restructuring
2020-12-31$4.6 million$12.9 million$12 million
2021-12-31——$536,000

Hostess Brands 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 Hostess Brands’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 2023-02-21. 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.