Hsn layoffs, on the record
Every job cut, severance charge and restructuring Hsn reported in its annual reports, 2014 to 2016, quoted from the filings. Headcount went from approximately 6,900 to approximately 6,500.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2014 | approximately 6,900 | January 22, 2015 |
| 10-K for 2015 | approximately 6,600 | January 19, 2016 |
| 10-K for 2016 | approximately 6,500 | January 19, 2017 |
Job cuts, severance and restructuring
Our summaryThe filing notes that the general and administrative expense increase was partly offset by lower severance-related costs, but gives no layoff or restructuring program details.
Word for word“The increase in employee-related costs was primarily related to performance-based incentives, partially offset by a decrease in severance-related costs.” 10-K for 2014
Our summaryHSN planned closure of its Virginia distribution center as part of a supply chain optimization initiative, with severance and retention costs.
Word for word“HSNi expects to incur approximately $4 million to $5 million in total charges related to the closure of the Virginia facility.” 10-K for 2015
Our summaryHSN carried out a reorganization in the fourth quarter of 2015 that resulted in severance costs.
Word for word“The fourth quarter of 2015 includes $2.0 million , or $0.02 per diluted share, of severance costs associated with a reorganization at HSN.” 10-K for 2015
Our summaryThe company expects employee-related expenses for the Virginia closure, including severance payments and retention incentives.
Word for word“These charges include approximately $3 million to $4 million in employee-related expenses, including severance payments and retention incentives.” 10-K for 2016
Hsn 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 Hsn’s annual reports (10-K for 2016, 10-K for 2015, 10-K for 2014) and the financial data it files with the SEC, as of 2017-02-24. 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.