Stratrix
On the Record · Parexel International

Parexel International layoffs, on the record

Every job cut, severance charge and restructuring Parexel International reported in its annual reports, 2015 to 2017, quoted from the filings. Headcount went from approximately 18,660 to approximately 18,900.

Headcount, as reported

Annual reportEmployeesAs of
10-K for 2015approximately 18,660June 30, 2015
10-K for 2016approximately 18,600June 30, 2016
10-K for 2017approximately 18,900As of June 30, 2017

Job cuts, severance and restructuring

  1. Our summaryAdopted the Margin Acceleration Program to restructure operations, improve productivity and simplify the organization. Affected: 370 managerial and staff positions

    Word for word“For Fiscal Year 2015, we recorded $20.0 million in restructuring charges related to the Margin Acceleration Program, which consisted entirely of employee separation benefits associated with the elimination of 370 managerial and staff positions.” 10-K for 2015

  2. Our summaryExpected pre-tax charges and annual savings from the Margin Acceleration Program were stated.

    Word for word“The Margin Acceleration Program is company wide and expected to result in pre-tax charges of between $35 million and $45.0 million .” 10-K for 2015

  3. Our summaryRecorded employee severance accrual under the Margin Acceleration Program, with activities expected to be substantially completed by June 2016.

    Word for word“The activities under the Margin Acceleration Program are expected to be substantially completed by June 2016.” 10-K for 2015

  4. Our summaryReported a net benefit to restructuring charges for facility-related adjustments under the 2011 Restructuring Plan, which eliminated about 150 positions. Affected: approximately 150 managerial and staff positions

    Word for word“The total cost of the 2011 Restructuring Plan was approximately $14.2 million and included the elimination of approximately 150 managerial and staff positions and costs related to the abandonment of certain property leases.” 10-K for 2015

  5. Our summaryAdopted the Margin Acceleration Program, a companywide plan to restructure operations, simplify the organization and streamline decision-making. In June 2015

    Word for word“In June 2015, we adopted a plan (the “Margin Acceleration Program”) to restructure our operations to improve the productivity and efficiency of the Company, simplify the organization, and streamline decision-making, thereby enhancing client engagement.” 10-K for 2016

  6. Our summaryEliminated managerial and staff positions under the Margin Acceleration Program in Fiscal Year 2016. For Fiscal Year 2016 · Affected: approximately 700 managerial and staff positions · Cost: $18.5 million of employee separation benefits

    Word for word“For Fiscal Year 2016, we recorded $27.8 million in restructuring charges related to the Margin Acceleration Program, which consisted of $18.5 million of employee separation benefits associated with the elimination of approximately 700 managerial and staff positions and $9.3 million of facility exit and other costs.” 10-K for 2016

  7. Our summaryReported cumulative eliminations under the Margin Acceleration Program since its inception. Since the program's inception · Affected: approximately 800 managerial and staff positions

    Word for word“Since the program's inception approximately 800 managerial and staff positions have been eliminated or the employees have been notified.” 10-K for 2016

  8. Our summaryRecorded restructuring charges for the Margin Acceleration Program in Fiscal Year 2015, consisting of employee separation benefits and facility exit costs. Cost: $20.0 million

    Word for word“For Fiscal Years 2016 and 2015, we recorded $27.8 million and $20.0 million , respectively, in restructuring charges related to the Margin Acceleration Program, which consisted of employee separation benefits and facility exit costs.” 10-K for 2016

  9. Our summaryRecorded cumulative restructuring charges under the Margin Acceleration Program since its June 2015 announcement, covering employee separation benefits and facility exit and other costs.

    Word for word“We recorded $47.8 million in restructuring charges related to the MAP program since it's announcement in June 2015, which consisted of $38.5 million of employee separation benefits and $9.3 million of facility exit and other costs.” 10-K for 2016

  10. Our summaryVacated leased properties as part of restructuring initiatives; the space has been sublet or is being marketed for sublease or disposition.

    Word for word“Due to restructuring initiatives, we have vacated approximately 113,000 square feet of our leased properties.” 10-K for 2016

  11. Our summaryRecorded a restructuring benefit for adjustments to facility-related charges under previously announced restructuring plans in Fiscal Year 2014. Fiscal Year 2014 · Cost: $0.4 million benefit

    Word for word“In Fiscal Year 2014, we recorded a $0.4 million benefit to restructuring charges for adjustments to facility-related charges under our previously announced restructuring plans.” 10-K for 2016

  12. Our summaryStated that the Margin Acceleration Program activities are substantially complete as of June 30, 2016. As of June 30, 2016

    Word for word“The activities under the Margin Acceleration Program are substantially complete as of June 30, 2016.” 10-K for 2016

  13. Our summaryThe company approved a plan to restructure its operations to improve productivity and efficiency, and recorded employee separation and facility exit charges for fiscal 2017. On January 6, 2017

    Word for word“On January 6, 2017, we approved a plan to restructure our operations to improve the productivity and efficiency of the company, simplify the organization, and streamline decision-making, thereby enhancing client engagement.” 10-K for 2017

  14. Our summaryThe company expanded the 2017 Restructuring Program. In May 2017

    Word for word“In May 2017, the Company approved an expansion of the 2017 Restructuring Program.” 10-K for 2017

  15. Our summaryThe company recorded a fiscal 2017 charge for the new restructuring program, mostly employee separation benefits. For Fiscal Year 2017

    Word for word“For Fiscal Year 2017 we recorded a $40.7 million restructuring charge for the new program, of which employee separation benefits amounted to $39.7 million , the remaining $1.0 million relates to facilities separation costs.” 10-K for 2017

  16. Our summaryThe company recorded restructuring charges under the Margin Acceleration Program in fiscal 2017 and 2016. Fiscal Years 2017 and 2016 · Cost: $0.5 million and $27.8 million

    Word for word“For Fiscal Years 2017 and 2016, we recorded $0.5 million and $27.8 million , respectively, in restructuring charges related to the Margin Acceleration Program, which consisted of employee separation benefits and facility exit costs.” 10-K for 2017
As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year endedRestructuring charges
2016-06-30$27.8 million
2017-06-30$41.2 million

Parexel International filed 2 restructuring notices (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 Parexel International’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 2017-08-29. 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.