Micro Focus International layoffs, on the record
Every job cut, severance charge and restructuring Micro Focus International reported in its annual reports, 2019 to 2021, quoted from the filings. Headcount went from approximately 12,100 to approximately 11,900.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 20-F for 2019 | approximately 12,100 | As at October 31, 2019 |
| 20-F for 2020 | approximately 11,900 | As at October 31, 2020 |
Job cuts, severance and restructuring
Our summarySeverance costs were recorded for ongoing headcount reductions as the Group removes duplication and streamlines operations, tied to integrating the HPE Software business.
Word for word“Severance costs of $32.1m in relation to ongoing headcount reductions as the Group continues to remove duplication and streamline the continuing operations; and” 20-F for 2019
Our summarySeverance costs were recorded for headcount reductions as the Group integrated the HPE Software business.
Word for word“Severance costs of $129.1 million in relation to ongoing headcount reductions as we integrate the HPE Software business; and” 20-F for 2019
Our summaryThe Group carried restructuring provisions, which relate to severance from headcount reductions, and added to them during the period.
Word for word“Restructuring provisions relate to severance resulting from headcount reductions.” 20-F for 2019
Our summaryA restructuring of the go-to-market organization was underway to improve sales effectiveness, including a new global operating plan and management system.
Word for word“In order to drive consistent and sustained improvements in sales effectiveness a more fundamental restructuring of our go-to-market organisation is now underway.” 20-F for 2019
Our summaryPast service credits on pensions resulted from headcount reductions under restructuring and integration of the HPE Software business.
Word for word“Past service credits are the result of headcount reductions under the Group’s restructuring and integration activities relating to the acquisition of the HPE Software business (note 38).” 20-F for 2019
Our summaryRecorded severance costs tied to ongoing headcount reductions as the company removes duplication from the HPE Software integration.
Word for word“Severance costs of $28.3 million in relation to on-going headcount reductions as we continue to remove duplication and streamline the continuing operations; and” 20-F for 2020
Our summaryRecorded severance and legal costs for termination of employees to simplify continuing operations after the HPE Software acquisition.
Word for word“Severance and legal costs of $33.7 million for the 12 months ended October 31, 2020 (2019: $32.1 million; 2018: $129.7 million) and relate mostly to termination costs for employees as the Group continues to remove duplication and simplify the continuing operations as a result of the acquisition of HPE Software.” 20-F for 2020
Our summaryRecorded restructuring severance and restructuring property costs as exceptional items.
Word for word“Restructuring property costs 11.6 - - Restructuring severance 5.4 - - Other costs 10.7 2.1 - 212.4 294.2 538.2 Goodwill impairment 2,799.2 - - Total exceptional costs (reported in Operating (loss)/profit) 3,011.6 294.2 538.2 In the 12-month period ended October 31, 2020, exceptional costs totaled $3,011.6 million, of which $2,799.2 million related to impairment of goodwill.” 20-F for 2020
Our summaryRecorded other restructuring costs for implementing initiatives from the Strategic & Operational Review.
Word for word“Other restructuring costs of $10.7 million for the 12 months ended October 31, 2020 (2019: $nil; 2018: $nil) relates to the costs of implementing the initiatives included in the Strategic & Operational Review.” 20-F for 2020
Our summaryRecorded restructuring provisions for severance from headcount reductions, with utilization during the year.
Word for word“At October 31, 2020 16.9 30.8 9.7 14.8 72.2 Current 5.0 20.2 9.7 14.8 49.7 Non-current 11.9 10.6 - - 22.5 Total 16.9 30.8 9.7 14.8 72.2 1 As described in I Significant Accounting Policies W” 20-F for 2020
Micro Focus International 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 Micro Focus International’s annual reports (20-F for 2021, 20-F for 2020, 20-F for 2019) and the financial data it files with the SEC, as of 2022-02-25. 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.