Milacron Holdings layoffs, on the record
Every job cut, severance charge and restructuring Milacron Holdings reported in its annual reports, 2016 to 2018, quoted from the filings. Headcount went from 5,843 to 5,797.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2016 | 5,843 | December 31, 2016 |
| 10-K for 2017 | 5,957 | December 31, 2017 |
| 10-K for 2018 | 5,797 | December 31, 2018 |
Job cuts, severance and restructuring
Our summaryRestructuring plan at Ferromatik Milacron GmbH's Malterdingen, Germany plant, shifting certain operational functions to the Czech Republic, agreed with the local works council.
Word for word“On September 30, 2016, the Company's wholly-owned subsidiary Ferromatik Milacron GmbH entered into an agreement with its local works council setting forth a restructuring plan related to its manufacturing facility in Malterdingen, Germany whereby certain operational functions will be shifted to the Company's operations in the Czech Republic.” 10-K for 2016
Our summaryCompany recognized expense under the 2016 Malterdingen restructuring plan.
Word for word“During the year ended December 31, 2016, the Company recognized $3.3 million of expense and these amounts are included within other expense, net in the Company's Consolidated Statements of Operations.” 10-K for 2016
Our summaryOrganizational redesign costs in 2016 included termination costs for eliminated positions, plus facility shutdown, relocation to the Czech Republic and Fluids restructuring costs.
Word for word“Organizational redesign costs for the year ended December 31, 2016 primarily include $13.3 million for termination costs as a result of eliminated positions, $4.4 million of costs related to the shutdown of facilities, $5.2 million of costs related to relocating our facilities in Belgium, Italy and Germany to the Czech Republic and $0.5 million of costs related to the restructuring of Fluids in Europe.” 10-K for 2016
Our summaryOrganizational redesign costs in 2015 included severance and relocation of facilities in Italy and Belgium to the Czech Republic, termination costs, Fluids restructuring in Europe, and facility shutdowns.
Word for word“Organizational redesign costs in the year ended December 31, 2015 primarily included $9.3 million of costs related to relocating our facilities in Italy and Belgium to the Czech Republic, $4.4 million for termination costs as a result of eliminated positions, $3.7 million of costs related to the restructuring of Fluids in Europe, and $1.4 million of costs related to the shutdown of facilities.” 10-K for 2016
Our summarySeverance expense recorded for organizational redesign initiatives in Europe, including consolidation of manufacturing to the Czech Republic.
Word for word“The Company recorded severance expense of $6.6 million for the year ended December 31, 2015 related to the Company's organizational redesign initiatives in Europe including the consolidation of certain manufacturing operations to the Czech Republic.” 10-K for 2016
Our summaryOrganizational redesign costs in 2014 included severance for eliminated positions, executive team changes, transition of positions to low-cost countries, and facility shutdowns.
Word for word“Organizational redesign costs in the year ended December 31, 2014 included $3.4 million for termination costs as a result of eliminated positions, $3.6 million of costs for changes in the executive management team, $2.9 million of costs for the transition of positions to low-cost countries, and $1.9 million of costs related to the shutdown of facilities.” 10-K for 2016
Our summaryCompany committed to a plan to sell two facilities, in Mechelen, Belgium and Magenta, Italy, as part of European organizational redesign.
Word for word“In connection with the Company's organizational redesign initiatives in Europe, the Company has committed to a plan to sell two separate facilities, one located in Mechelen, Belgium and one located in Magenta, Italy.” 10-K for 2016
Our summaryRecorded severance expense for eliminating certain positions in the Advanced Plastic Processing Technologies and Corporate segments.
Word for word“The Company recorded severance expense of $2.7 million during the year ended December 31, 2017 related to the elimination of certain positions with the Company's Advanced Plastic Processing Technologies and Corporate segments.” 10-K for 2017
Our summaryRestructuring plan at the Malterdingen, Germany facility shifting operational functions to the Czech Republic, U.S. and India, with works council agreement.
Word for word“The Company expects to incur severance and other related costs of approximately $18.0 million to $20.0 million .” 10-K for 2017
Our summaryOrganizational redesign termination costs for eliminated positions, including positions in the MDCS segment.
Word for word“Organizational redesign costs for the year ended December 31, 2017 primarily include $17.6 million for termination costs as a result of eliminated positions, $21.7 million of costs related to relocating our facilities in Belgium, Italy and Germany to the Czech Republic and $4.0 million of costs related to our facility consolidation in North America.” 10-K for 2017
Our summarySeverance and related costs for the Malterdingen, Germany restructuring and severance for eliminated positions in APPT and Corporate segments drove higher other expense.
Word for word“The increase is primarily related to severance and other related costs incurred in connection with our restructuring plan at our Malterdingen, Germany facility.” 10-K for 2017
Our summaryThe company set up a restructuring plan at its Malterdingen, Germany plant, moving some operations to the Czech Republic, U.S. and India, and added more employees to the plan in 2018, with total severance and related costs expected to reach about $28.0 to $29.0 million.
Word for word“As a result of these additions, as well as the impact of movements in foreign currency, the Company expects to incur total severance and other related costs of approximately $28.0 million to $29.0 million .” 10-K for 2018
Our summaryThe company recorded organizational redesign costs in 2016, including termination costs for eliminated positions.
Word for word“In the year ended December 31, 2016, organizational redesign costs across all segments included $13.3 million for termination costs as a result of eliminated positions.” 10-K for 2018
Milacron Holdings filed 1 restructuring notice (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Milacron Holdings’s annual reports (10-K for 2018, 10-K for 2017, 10-K for 2016) and the financial data it files with the SEC, as of 2019-02-28. 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.