Stratrix
On the Record · Kapstone Paper & Packaging

Kapstone Paper & Packaging layoffs, on the record

Every job cut, severance charge and restructuring Kapstone Paper & Packaging reported in its annual reports, 2015 to 2017, quoted from the filings. Headcount went from approximately 6,400 to approximately 6,400.

Headcount, as reported

Annual reportEmployeesAs of
10-K for 2015approximately 6,400December 31, 2015
10-K for 2016approximately 6,400December 31, 2016
10-K for 2017approximately 6,400December 31, 2017

Job cuts, severance and restructuring

  1. Our summaryThe filing reports a voluntary severance plan with charges of $6.6 million in cost of sales, a 2015 cost increase versus 2014. Cost: $6.6 million of voluntary severance plan charges

    Word for word“In addition to the Longview acquisition, cost of sales increased mainly due to $21.5 million of inflation on labor, benefits and input costs, $18.7 million of higher sales volume, $11.2 million of higher planned maintenance outage costs, $6.6 million of voluntary severance plan charges and $4.4 million of other cost increases.” 10-K for 2015

  2. Our summaryThe filing reports a voluntary severance plan with charges of $0.3 million in selling, general and administrative expenses, in the 2014 versus 2013 comparison. Cost: $0.3 million of voluntary severance plan charges

    Word for word“The increase of $26.4 million was primarily due to $25.2 million from the Longview acquisition. In addition to the Longview acquisition, selling, general, and administrative expenses increased due to $3.9 million of higher compensation and benefit related expenses, $4.2 million of 2014 Longview integration related expenses, $0.9 million higher legal expenses and $0.3 million of voluntary severance plan charges, partially offset by $8.5 million of nonrecurring 2013 Longview acquisition related expenses.” 10-K for 2015

  3. Our summaryThe filing reports lower severance costs of $2.0 million in cost of sales compared with the prior year, after a Longview mill work stoppage. Cost: $2.0 million of lower severance costs

    Word for word“This increase in cost of sales was offset by $29.3 million of lower sales volume, $4.2 million of productivity gains and lower incentive compensation and $2.0 million of lower severance costs.” 10-K for 2015

  4. Our summaryThe company reported a multiemployer pension plan withdrawal expense in its 2016 results. Cost: 6,376

    Word for word“Multiemployer pension plan withdrawal expense 6,376 — 6,376 0.2 % 0.0 %.” 10-K for 2016

  5. Our summaryThe company stopped all operations at one location in October 2017 and recorded charges for the closure, including severance and other employee costs. Cost: $10.2 million, which includes $6.0 million write-off of impaired property, plant and equipment, $1.5 million of severance and other employee costs

    Word for word“For the year ended December 31, 2017, the Company recorded charges of $10.2 million, which includes $6.0 million write-off of impaired property, plant and equipment, $1.5 million of severance and other employee costs, $1.7 million of facility carrying costs and $1.0 million write-off of impaired inventory.” 10-K for 2017

Kapstone Paper & Packaging 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 Kapstone Paper & Packaging’s annual reports (10-K for 2017, 10-K for 2016, 10-K for 2015) and the financial data it files with the SEC, as of 2018-02-23. 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.