Neenah layoffs, on the record
Every job cut, severance charge and restructuring Neenah reported in its annual reports, 2019 to 2021, quoted from the filings. Headcount went from approximately 2,324 to approximately 2,493.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2019 | approximately 2,324 | December 31, 2019 |
| 10-K for 2020 | approximately 2,239 | December 31, 2020 |
| 10-K for 2021 | approximately 2,493 | As of December 31, 2021 |
Job cuts, severance and restructuring
Our summaryConsolidation of the fine paper manufacturing footprint with an idling of a paper machine, causing accelerated depreciation and other non-routine costs.
Word for word“For the year ended December 31, 2019 , we incurred $ 6.2 million of non-routine costs primarily related to the accelerated depreciation and other costs related to the consolidation of the fine paper manufacturing footprint with an idling of a paper machine.” 10-K for 2019
Our summaryRestructuring and other one-time costs recorded in 2018 (including integration costs tied to the Coldenhove acquisition).
Word for word“For the year ended December 31, 2018 , we incurred $0.5 million of integration costs related to the acquisition of Neenah Coldenhove ("Coldenhove Acquisition") and $1.6 million of restructuring and other one-time costs.” 10-K for 2019
Our summaryRestructuring costs recorded in 2015 (other than integration costs for the FiberMark acquisition).
Word for word“For the year ended December 31, 2015 , we incurred $5.3 million of integration costs related to the FiberMark Acquisition and $1.2 million of restructuring costs.” 10-K for 2019
Our summaryIdled a fine paper machine and other smaller assets, reallocated their volume, eliminated certain product brands and SKUs, and restructured parts of the workforce, with a workforce reduction in the Fine Paper and Packaging segment.
Word for word“During the three months ended June 30, 2020, the adverse impacts of COVID-19 led to additional actions taken to consolidate the Company's operational footprint with the idling of a fine paper machine and other smaller assets and reallocating their volume, optimizing and eliminating certain product brands and SKUs and restructuring parts of its workforce.” 10-K for 2020
Our summaryRecorded employee termination benefits for a workforce reduction in the Fine Paper and Packaging segment, together with accelerated depreciation from idling assets.
Word for word“The other charge of $3.0 million arose from accelerated depreciation due to the idling of assets and related employee termination benefits for a workforce reduction in the Fine Paper and Packaging segment.” 10-K for 2020
Our summaryRecorded severance costs as part of asset restructuring and impairment costs in 2020.
Word for word“Severance costs 0.4 — — Total $ 57.8 $ 4.7 $ 31.1 F-47 NEENAH, INC.” 10-K for 2020
Our summarySold the Brattleboro, Vermont premium fine paper and office products facility, with related asset restructuring and impairment costs.
Word for word“In conjunction with the sale, the Company recorded an impairment loss of $ 31.1 million, of which $ 24.4 million, $ 1.1 million and $ 5.6 million was reported within the Fine Paper and Packaging, Technical Products and Other business segments, respectively.” 10-K for 2020
Our summaryIn connection with closing the Appleton facility, the company recorded other restructuring charges that included severance costs, along with reserves for obsolete inventory and environmental exposures.
Word for word“In addition, the Company recorded $ 4.9 million of other restructuring charges, including reserves for obsolete inventory, severance costs and environmental exposures.” 10-K for 2021
Our summaryIn 2020, the company idled a fine paper machine and restructured parts of its workforce because of COVID-19, recording accelerated depreciation and employee termination benefit costs.
Word for word“As a result, the Company recorded accelerated depreciation of $ 2.6 million related to the idling of the manufacturing assets and $ 0.4 million of employee termination benefit costs.” 10-K for 2021
| Fiscal year ended | Severance costs | Restructuring charges |
|---|---|---|
| 2019-12-31 | $0 | — |
| 2020-12-31 | $400,000 | — |
| 2021-12-31 | $600,000 | $2.1 million |
Neenah 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 Neenah’s annual reports (10-K for 2021, 10-K for 2020, 10-K for 2019) and the financial data it files with the SEC, as of 2022-02-18. 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.