Mitel Networks layoffs, on the record
Every job cut, severance charge and restructuring Mitel Networks reported in its annual reports, 2015 to 2017, quoted from the filings. Headcount went from approximately 4,500 to approximately 3,820.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2015 | approximately 4,500 | December 31, 2015 |
| 10-K for 2016 | approximately 3,300 | December 31, 2016 |
| 10-K for 2017 | approximately 3,820 | December 31, 2017 |
Job cuts, severance and restructuring
Our summarySpecial charges and restructuring costs of $54.6 million were recorded, including employee-related charges, in 2015.
Word for word“Special Charges and Restructuring Costs Special charges and restructuring costs of $54.6 million were recorded in the year ended December 31, 2015.” 10-K for 2015
Our summarySpecial charges and restructuring costs of $72.7 million were recorded, including workforce reduction charges, in 2014.
Word for word“The employee-related charges consisted of costs related to headcount reductions of approximately 350 people, primarily in North America and Europe.” 10-K for 2015
Our summarySpecial charges and restructuring costs were recorded for the eight months ended December 31, 2013, including workforce reductions.
Word for word“The workforce and facility-related charges are primarily for headcount reductions, consisting of the termination of approximately 75 employees, and lease termination obligations in North America as the Company reduced its cost structure.” 10-K for 2015
Our summaryA restructuring plan in response to macro-economic concerns included workforce reductions and facility closures.
Word for word“In response to macro-economic concerns, the Company implemented a restructuring plan that included the termination of approximately 200 employees as well as the closure of excess facilities, primarily in North America.” 10-K for 2015
Our summaryMitel recorded employee-related charges in 2015 within its special charges and restructuring costs.
Word for word“Special charges and restructuring costs of $47.5 million were recorded in the year ended December 31, 2015.” 10-K for 2016
Our summaryMitel recorded workforce reduction-related charges in 2014 within its special charges and restructuring costs.
Word for word“Special charges and restructuring costs of $72.7 million were recorded in the year ended December 31, 2014.” 10-K for 2016
Our summaryMitel's restructuring liability for workforce reduction costs was drawn down through cash payments during 2016.
Word for word“Balance of provision as of December 31, 2016 $ 8.7 $ 4.5 $ 13.2 87 Table of Contents 21.” 10-K for 2016
Our summaryThe company recorded special charges and restructuring costs for 2017, including employee-related, facility, integration and acquisition-related charges.
Word for word“Special charges and restructuring costs of $83.4 million were recorded in the year ended December 31, 2017.” 10-K for 2017
Our summaryThe company recorded special charges and restructuring costs for 2016, including employee-related, facility, integration and acquisition-related charges.
Word for word“We recorded special charges and restructuring costs of $70.8 million in the year ended December 31, 2016.” 10-K for 2017
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-12-31 | $21.8 million | $27.9 million |
| 2017-12-31 | $47.7 million | $37.3 million |
Mitel Networks 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 Mitel Networks’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.