Multi Color layoffs, on the record
Every job cut, severance charge and restructuring Multi Color reported in its annual reports, 2017 to 2019, quoted from the filings. Headcount went from approximately 5,450 to over 8,300.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2017 | approximately 5,450 | March 31, 2017 |
| 10-K for 2018 | over 8,400 | March 31, 2018 |
| 10-K for 2019 | over 8,300 | March 31, 2019 |
Job cuts, severance and restructuring
Our summaryConsolidated two Glasgow, Scotland manufacturing facilities into one, with severance and other costs recorded.
Word for word“During the three months ended March 31, 2016, the Company began the process to consolidate our two manufacturing facilities located in Glasgow, Scotland into one facility.” 10-K for 2017
Our summaryClosed the Sonoma facility and moved equipment to Napa, with a small severance amount recorded.
Word for word“The transition was substantially completed in the third quarter of fiscal 2017.” 10-K for 2017
Our summaryClosed the Greensboro facility and moved equipment to other North American facilities, with severance and other costs recorded.
Word for word“The transition was substantially completed in the fourth quarter of fiscal 2016.” 10-K for 2017
Our summaryConsolidated the Dublin facility into Drogheda, with employee relocation and severance costs recorded.
Word for word“The consolidation was substantially completed in the first quarter of fiscal 2017.” 10-K for 2017
Our summaryClosed the Norway and Watertown facilities, with severance and other termination costs recorded; both facilities were sold during fiscal 2016.
Word for word“The land and building at the Watertown facility were sold during fiscal 2016, and a gain of $476 was recorded in facility closure expenses in the consolidated statements of income.” 10-K for 2017
Our summaryClosed the El Dorado Hills facility, recording employee termination benefits including severance and relocation costs.
Word for word“In connection with the closure of the El Dorado Hills facility, the Company recorded charges of $128 and $1,166 in fiscal 2015 and 2014, respectively, for employee termination benefits, including severance and relocation and other costs.” 10-K for 2017
Our summaryAnnounced plans to consolidate the Merignac, France manufacturing facility into the Libourne, France facility; the transition was substantially completed in fiscal 2018.
Word for word“During the three months ended September 30, 2017, the Company announced plans to consolidate our manufacturing facility located in Merignac, France into our existing facility in Libourne, France.” 10-K for 2018
Our summaryClosed the Dormans facility; production ceased in the first quarter of fiscal 2018.
Word for word“Production at the facility ceased during the first quarter of fiscal 2018.” 10-K for 2018
Our summaryConsolidated the two Glasgow facilities into one facility.
Word for word“The transition was substantially completed in the fourth quarter of fiscal 2017.” 10-K for 2018
Our summaryClosed the Norway and Watertown facilities and transitioned their business to other North American facilities.
Word for word“During fiscal 2016, the Company incurred exit and disposal costs of $134 and $352 related to severance and other termination benefits and other associated costs, respectively, related to the closure of the Norway and Watertown facilities.” 10-K for 2018
Our summaryThe company stopped production at its Cowansville facility and is closing it, recording severance and other termination costs.
Word for word“Production ceased at the facility as of March 31, 2019, and the closure is expected to be substantially completed during the first quarter of fiscal 2020.” 10-K for 2019
Our summaryThe company closed its Melbourne facility and moved operations to Notting Hill, recording total closure costs.
Word for word“The cumulative costs incurred in conjunction with the closure are $782, which were recorded in integration expenses within selling, general and administrative expenses in the consolidated statements of operations in fiscal 2019.” 10-K for 2019
Our summaryThe company began consolidating its Dublin, Ireland plant into its Drogheda, Ireland plant.
Word for word“Dublin, Ireland During the three months ended December 31, 2015, the Company began the process to consolidate our manufacturing facility located in Dublin, Ireland into our existing facility in Drogheda, Ireland (near Dublin).” 10-K for 2019
Our summaryThe company decided to close its facilities in Norway, Michigan and Watertown, Wisconsin.
Word for word“Norway, Michigan and Watertown, Wisconsin During fiscal 2015, the Company decided to close our manufacturing facilities located in Norway, Michigan and Watertown, Wisconsin.” 10-K for 2019
| Fiscal year ended | Restructuring charges |
|---|---|
| 2017-03-31 | $921,000 |
| 2018-03-31 | $1.4 million |
| 2019-03-31 | $711,000 |
Multi Color 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 Multi Color’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 2019-05-28. 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.