Multi Packaging Solutions International layoffs, on the record
Every job cut, severance charge and restructuring Multi Packaging Solutions International reported in its annual reports, 2016, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2016 | approximately 8,700 | June 30, 2016 |
Job cuts, severance and restructuring
Our summaryThe company announced it would close its Melrose Park, Illinois facility.
Word for word“In September 2015, the Company announced the closure of its facility in Melrose Park, Illinois.” 10-K for 2016
Our summaryThe company announced it would close its Stuttgart, Germany business and relocate it.
Word for word“In May 2016, the Company announced the planned closure and relocation of the business in Stuttgart, Germany.” 10-K for 2016
Our summaryThe company announced it would reorganize and stop operating at its Terre Haute, Evansville and Fairfield facilities.
Word for word“In November 2013, the Company announced its intention to reorganize and cease its operations in its Terre Haute, Indiana, Evansville, Indiana and Fairfield, New Jersey facilities.” 10-K for 2016
Our summaryThe company recorded restructuring severance costs, mainly in Europe, tied to integrating businesses after the Chesapeake merger.
Word for word“Additionally, in fiscal 2015, the Company recorded certain restructuring related severance costs primarily in Europe resulting from the integration of businesses subsequent to the merger with Chesapeake in February 2014.” 10-K for 2016
Our summaryEurope operating income was reduced by restructuring charges, mainly from the announced closure of the Stuttgart facility.
Word for word“Europe operating income for fiscal 2016 was negatively impacted due to the recording of $8.5 million of stock compensation expense for European employees associated with the Company’s initial public offering, as well as 48 Table of Contents $7.0 million of restructuring charges primarily as a result of the announced closure of our Stuttgart facility.” 10-K for 2016
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-06-30 | $10.7 million | $5.9 million |
Multi Packaging Solutions 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 Multi Packaging Solutions International’s annual reports (10-K for 2016) and the financial data it files with the SEC, as of 2016-08-23. 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.