Mellanox Technologies layoffs, on the record
Every job cut, severance charge and restructuring Mellanox Technologies reported in its annual reports, 2017 to 2019, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2017 | 2,448 full-time employees and 275 part-time employees | December 31, 2017 |
| 10-K for 2018 | 2,330 full-time employees and 116 part-time employees | As of December 31, 2018 |
| 10-K for 2019 | 2,660 full-time employees and 117 part-time employees | As of December 31, 2019 |
Job cuts, severance and restructuring
Our summaryThe company discontinued its 1550nm silicon photonics development activities, expected to bring restructuring charges mainly for employee termination and severance.
Word for word“On January 9, 2018, the Company announced that it discontinued its 1550nm silicon photonics development activities.” 10-K for 2017
Our summaryWound down the 1550nm silicon photonics development activities through a restructuring plan that included terminating employees, exiting vendor contracts, selling assets and exiting facilities.
Word for word“In connection with the discontinuation of its 1550nm silicon photonics development activities, the Company initiated a restructuring plan to wind down the business operations related to these activities, which primarily included terminating employees, exiting contracts with vendors, selling assets, and exiting facilities.” 10-K for 2018
Our summaryRecorded restructuring and impairment charges in 2018, mainly employee termination and severance costs, contract exit costs, and impairment and disposal losses tied to the 1550nm silicon photonics discontinuation.
Word for word“Restructuring and impairment charges for the year ended December 31, 2018 primarily consisted of employee termination and severance costs of $3.5 million , contract exit costs with vendors of $3.4 million , and impairment charges and a net loss on disposal of assets of $2.4 million primarily related to the discontinuation of our 1550nm silicon photonics development activities.” 10-K for 2018
Our summaryRecorded a fourth-quarter 2017 impairment tied to the potential sale or discontinuation of the 1550nm silicon photonics line of business.
Word for word“As a result, the Company recorded impairment charges totaling $12.0 million in the fourth quarter of 2017, of which $7.7 million was related to property and equipment and $4.3 million was related to intangible assets.” 10-K for 2018
Our summaryStated that no further costs are expected from the discontinued silicon photonics activities, with up to $0.5 million of facility charges expected in 2019.
Word for word“The Company does not expect additional costs related to these activities in future periods.” 10-K for 2018
Our summaryThe company started a restructuring plan to wind down its 1550nm silicon photonics development business, including ending employee jobs, exiting vendor contracts, selling assets and leaving facilities.
Word for word“In connection with the discontinuation of its 1550nm silicon photonics development activities, the Company initiated a restructuring plan in the first quarter of 2018 to wind down the business operations related to these activities, which primarily included terminating employees, exiting contracts with vendors, selling assets, and exiting facilities.” 10-K for 2019
Our summaryThe company recorded employee separation and severance costs, contract exit costs and impairment charges for the 2018 silicon photonics wind-down.
Word for word“The Company recorded $ 3.5 million , $ 3.4 million , and $ 2.4 million of employee separation and severance costs, contract exit costs, and impairment charges and losses on disposal of assets, respectively, during the year ended December 31, 2018.” 10-K for 2019
Mellanox Technologies 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 Mellanox Technologies’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 2020-02-20. 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.