Mentor Graphics layoffs, on the record
Every job cut, severance charge and restructuring Mentor Graphics reported in its annual reports, 2015 to 2017, quoted from the filings. Headcount went from approximately 5,558 to approximately 5,968.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2015 | approximately 5,558 | January 31, 2015 |
| 10-K for 2016 | approximately 5,700 | January 31, 2016 |
| 10-K for 2017 | approximately 5,968 | January 31, 2017 |
Job cuts, severance and restructuring
Our summaryCompany recorded employee severance and related costs from rebalance plans tied to reducing personnel resources, with amounts reported for fiscal 2015, 2014 and 2013.
Word for word“Employee severance and related costs 3,535 4,392 4,016 Other 1,547 940 2,298 Total special charges $ 23,490 $ 16,929 $ 9,946 67 Table of Contents Special charges includes expenses incurred related to certain litigation costs, employee severance, acquisitions, excess facility costs, and asset related charges.” 10-K for 2015
Our summaryCompany stated that employee severance costs relate to terminations from a reduction of personnel resources, through numerous unrelated rebalance plans affecting several employee groups.
Word for word“These rebalance charges generally represent the aggregate of numerous unrelated rebalance plans which impact several employee groups, none of which is individually material to our financial position or results of operations.” 10-K for 2015
Our summaryCompany recorded restructuring charges in connection with employee rebalances, based on estimated severance costs, and reported paying most fiscal 2015 severance during that year.
Word for word“Approximately 90% of the employee severance and related costs for fiscal 2015 were paid during fiscal 2015 .” 10-K for 2015
Our summaryOffered a voluntary early retirement program in North America, with 110 employees electing to participate.
Word for word“We offered the voluntary early retirement program in North America during the three months ended April 30, 2015 and 110 employees elected to participate.” 10-K for 2016
Our summaryRecorded employee severance and related costs under numerous unrelated rebalance plans affecting several employee groups.
Word for word“Employee severance and related costs include severance benefits and notice pay.” 10-K for 2016
Our summaryRecorded special charges totaling $45,081 (thousands) in fiscal 2016, including the voluntary early retirement program, severance, litigation and other costs.
Word for word“Total special charges $ 45,081 $ 23,490 $ 16,929 Special charges generally include expenses incurred related to employee severance, certain litigation costs, acquisitions, excess facility costs, and asset related charges.” 10-K for 2016
Our summaryThe company recorded employee severance and related costs from several unrelated rebalance plans in fiscal year 2017 and expects to pay the rest in fiscal 2018.
Word for word“Approximately 42% of the employee severance and related costs for fiscal year 2017 were paid during fiscal year 2017 .” 10-K for 2017
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2017-01-31 | $15.8 million | $12.4 million |
Mentor Graphics 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 Mentor Graphics’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 2017-03-17. 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.