Ortho Clinical Diagnostics Holdings layoffs, on the record
Every job cut, severance charge and restructuring Ortho Clinical Diagnostics Holdings reported in its annual reports, 2021 to 2022, quoted from the filings. Headcount went from more than 4,500 to approximately 4,800.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2021 | more than 4,500 | — |
| 10-K for 2022 | approximately 4,800 | As of January 2, 2022 |
Job cuts, severance and restructuring
Our summaryCompany undertook restructuring initiatives to cut costs and improve productivity in procurement, manufacturing, supply chain and logistics, with severance paid under them; cumulative payments of $71.0 million to date.
Word for word“We made cash payments of $6.5 million during the fiscal year ended January 3, 2021 and have made cumulative cash payments of $71.0 million to date, respectively, related to these initiatives.” 10-K for 2021
Our summaryCompany announced a project to transfer certain production lines among facilities, with expected pre-tax charges including severance.
Word for word“The Company estimates that the implementation of these initiatives will result in pre-tax charges of approximately $22 million, comprised of approximately $12 million in accelerated depreciation, $5 million in severance charges and $5 million in other facility-related costs.” 10-K for 2021
Our summaryCompany announced it would outsource equipment manufacturing in Rochester, New York and refurbishment operations in Neckargemund, Germany to a third-party contract manufacturer.
Word for word“During the fiscal year ended January 3, 2016, the Company announced that it will outsource its equipment manufacturing operations in Rochester, New York and refurbishment operations in Neckargemund, Germany to a third-party contract manufacturing company.” 10-K for 2021
Our summaryRestructuring costs recorded in the fiscal year ended January 3, 2021, including severance and employee benefit reserve movements, with severance and employee benefits reserve reduced by payments.
Word for word“The Company has incurred restructuring costs of $0.1 million and $94.6 million during the fiscal year ended January 3, 2021 and cumulative to date, respectively.” 10-K for 2021
| Fiscal year ended | Restructuring charges | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|---|
| 2018-12-30 | — | — | $15.4 million |
| 2019-12-29 | $11.9 million | $75.4 million | — |
| 2021-01-03 | — | — | $6.5 million |
Ortho Clinical Diagnostics Holdings 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 Ortho Clinical Diagnostics Holdings’s annual reports (10-K for 2022, 10-K for 2021) and the financial data it files with the SEC, as of 2022-03-08. 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.