Linde layoffs, on the record
Every job cut, severance charge and restructuring Linde reported in its annual reports, 2015 to 2017, quoted from the filings. Headcount went from 26,657 to 26,461.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2015 | 26,657 | December 31, 2015 |
| 10-K for 2016 | 26,498 | As of December 31, 2016 |
| 10-K for 2017 | 26,461 | December 31, 2017 |
Job cuts, severance and restructuring
Our summaryPraxair recorded pre-tax charges for a cost reduction program initiated in response to lower volumes from economic slowdown in emerging markets and energy related end-markets, mainly severance and other costs.
Word for word“The charges related primarily to severance and other costs associated with a cost reduction program, which was initiated in response to lower volumes resulting from economic slowdown in emerging markets and energy related end-markets.” 10-K for 2015
Our summaryPraxair elminated 1,544 positions under the 2015 cost reduction program, with most actions completed during 2015.
Word for word“The severance costs of $63 million are for the elimination of 1,544 positions.” 10-K for 2015
Our summaryHeadcount fell during 2015, which the company attributed mainly to cost reduction programs implemented during the year.
Word for word“The number of employees at December 31, 2015 was 26,657 , a decrease of 1,123 employees from December 31, 2014 .” 10-K for 2015
Our summaryPraxair estimated the total cash requirements of the 2015 cost reduction program and other charges, of which part had been paid by year end.
Word for word“The total cash requirements of the cost reduction program and other charges are estimated to be approximately $94 million , of which $44 million was paid through December 31, 2015.” 10-K for 2015
Our summaryIn the third quarter of 2016 Praxair recorded a cost reduction program and other charges, including severance costs for the elimination of 730 positions.
Word for word“The severance costs of $40 million are for the elimination of 730 positions.” 10-K for 2016
Our summaryIn the third quarter of 2016, Praxair recorded a cost reduction program charge covering severance and other costs.
Word for word“In the third quarter of 2016, Praxair recorded pre-tax charges totaling $96 million ( $63 million after-tax and noncontrolling interests of $0.22 per diluted share).” 10-K for 2017
Our summaryIn 2015, Praxair recorded charges for a cost reduction program, mostly severance, started in response to lower volumes in emerging markets and energy-related end-markets.
Word for word“In the second quarter of 2015, Praxair recorded pre-tax charges totaling $146 million ( $112 million after-tax and noncontrolling interests or $0.39 per diluted share) and in the third quarter recorded pre-tax charges totaling $19 million ( $13 million after-tax or $0.04 per diluted share).” 10-K for 2017
| Fiscal year ended | Severance costs | Cash paid for restructuring | Positions eliminated |
|---|---|---|---|
| 2016-12-31 | $7 million | $13 million | 730 |
| 2017-12-31 | $6 million | — | — |
Linde 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 Linde’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 2018-02-28. 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.