Ladenburg Thalmann Financial Services layoffs, on the record
Every job cut, severance charge and restructuring Ladenburg Thalmann Financial Services reported in its annual reports, 2017 to 2019, quoted from the filings. Headcount went from 1,379 to 1,510.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2017 | 1,379 | December 31, 2017 |
| 10-K for 2018 | 1,512 | December 31, 2018 |
| 10-K for 2019 | 1,510 | December 31, 2019 |
Job cuts, severance and restructuring
Our summaryThe filing reports severance costs in its EBITDA reconciliation footnote for 2017, included within other expense.
Word for word“(1) Includes loss on severance costs of $ 525 , excise and franchise tax expense of $ 594 and compensation expense that may be paid in stock of $ 559 for the twelve months ended December 31, 2017.” 10-K for 2017
Our summaryThe filing reports severance costs in its EBITDA reconciliation footnote for 2016, included within other expense.
Word for word“(2) Includes loss on severance costs of $ 755 , excise and franchise tax expense of $ 508 and compensation expense that may be paid in stock of $ 586 for the twelve months ended December 31, 2016.” 10-K for 2017
Our summaryThe filing reports loss on severance costs in the EBITDA reconciliation footnotes for 2018, 2017 and 2016, but no workforce reduction, layoff or restructuring program is described.
Word for word“(1) Includes loss on severance costs of $481 , excise and franchise tax expense of $629 , compensation expense that may be paid in stock of $ 535 and non-recurring expenses related to a block repurchase of our common stock and other legal matters of $1,747 .” 10-K for 2018
Our summaryThe company recorded severance expense in 2019 within compensation and benefits expense.
Word for word“We recorded severance expense of $1,697 during the year ended 2019.” 10-K for 2019
| Fiscal year ended | Severance costs |
|---|---|
| 2016-12-31 | $755,000 |
| 2017-12-31 | $525,000 |
| 2018-12-31 | $481,000 |
| 2019-12-31 | $1.7 million |
Ladenburg Thalmann Financial Services 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 Ladenburg Thalmann Financial Services’s annual reports (10-K for 2019, 10-K for 2018, 10-K for 2017) and the financial data it files with the SEC, as of 2020-03-13. 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.