Pcm layoffs, on the record
Every job cut, severance charge and restructuring Pcm reported in its annual reports, 2016 to 2018, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2016 | 3,576 full-time and 69 part-time employees | December 31, 2016 |
| 10-K for 2017 | 4,073 full-time and 89 part-time employees | December 31, 2017 |
| 10-K for 2018 | 3,954 full-time and 86 part-time employees | At December 31, 2018 |
Job cuts, severance and restructuring
Our summarySG&A rose in 2015 partly because of a higher severance and restructuring related cost.
Word for word“The increase in consolidated SG&A expenses was primarily due to a $25.4 million non-cash charge related to our decision to pursue En Pointe’s SAP ERP and Microsoft CRM solutions over those being developed previously, the SG&A expenses relating to our 2015 acquisitions, a $3.2 million increase in severance and restructuring related costs and $2.1 million of M&A related fees.” 10-K for 2016
Our summarySpecial charges in 2015 that rose, including severance costs, lease vacancy costs and acquisition fees, reduced consolidated operating profit.
Word for word“The decrease in consolidated operating profit included a $25.4 million non-cash charge related to the write-off of internally developed software related to our upcoming ERP and CRM systems, in favor of the ERP and CRM systems already configured and in production at En Pointe, a $5.3 million increase in special charges, which included acquisition related fees, lease vacancy costs and severance costs and a reduction in profit in our federal business associated with the reduced sales under a federal contract vehicle.” 10-K for 2016
Our summaryThe company recorded restructuring related costs that increased consolidated SG&A expenses in 2017.
Word for word“The increase in consolidated SG&A expenses was also impacted by $3.6 million of restructuring related costs, $1.7 million of increased telecommunication costs and a $1.5 million increase in M&A and related litigation costs, partially offset by a $1.7 million reduction in amortization expense and a $1.6 million decrease in outside service costs primarily related to the termination of the third party back office support (BPO) contract in Pakistan.” 10-K for 2017
Our summaryThe company ended its service contract with its prior BPO provider in Pakistan, which lowered outside service costs in 2018.
Word for word“The decrease in consolidated SG&A expenses was primarily due to a decrease in outside services of $4.9 million, primarily related to the termination of the service contract with our prior BPO service provider in Pakistan and a decrease in third party logistics costs, a decrease in restructuring related costs of $3.3 million, a decrease in credit card related costs of $2.2 million, a decrease in telecommunication costs of $1.8 million, a decrease in net advertising costs of $1.3 million and an adjustment to reduce $1.1 million of contingent consideration relating to the Provista Technology acquisition, slightly offset by an increase in personnel costs of $1.2 million.” 10-K for 2018
Pcm 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 Pcm’s annual reports (10-K for 2018, 10-K for 2017, 10-K for 2016) and the financial data it files with the SEC, as of 2019-03-14. 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.