Presidio layoffs, on the record
Every job cut, severance charge and restructuring Presidio reported in its annual reports, 2017 to 2019, quoted from the filings. Headcount went from over 2,700 to approximately 2,900.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2017 | over 2,700 | June 30, 2017 |
| 10-K for 2018 | approximately 2,900 | June 30, 2018 |
| 10-K for 2019 | approximately 2,900 | As of June 30, 2019 |
Job cuts, severance and restructuring
Our summaryCompany reported severance charges within transaction costs for the fiscal year ended June 30, 2016, totaling $1.1 million.
Word for word“(5) of $20.6 million for the fiscal year ended June 30, 2016 includes acquisition-related expenses of $3.0 million related to stay and retention bonuses, $1.1 million related to severance charges, $8.7 million related to transaction-related advisory and diligence fees, $6.0 million related to transaction-related legal, accounting and tax fees and $1.8 million related to professional fees and expenses associated with debt refinancings; and (6) of $14.8 million for the fiscal year ended June 30, 2017 includes acquisition-related expenses of $7.4 million related to stay and retention bonuses, $5.2 million related to transaction-related advisory and diligence fees, $0.5 million related to transaction-related legal, accounting and tax fees and $1.7 million related to professional fees and expenses associated with debt refinancings.” 10-K for 2017
Our summaryCompany reported acquisition-related severance charges within transaction costs for the Predecessor period from July 1, 2014 to February 1, 2015, totaling $0.2 million.
Word for word“(3) of $42.6 million for the Predecessor period from July 1, 2014 to February 1, 2015 includes acquisition-related expenses of $0.3 million related to stay and retention bonuses, $0.2 million related to acquisition-related severance charges, $31.2 million related to transaction-related legal, accounting and tax fees in connection with the Presidio Acquisition and $10.9 million related to professional fees and expenses associated with debt refinancings;” 10-K for 2017
Our summaryCompany reported severance charges within transaction costs for the fiscal year ended June 30, 2014, totaling $0.3 million.
Word for word“(2) of $14.8 million for the fiscal year ended June 30, 2014 includes acquisition-related expenses of $0.8 million related to stay and retention bonuses, $0.3 million related to severance charges, $0.7 million related to transaction-related legal, accounting and tax fees and $13.0 million related to professional fees and expenses associated with debt refinancings;” 10-K for 2017
Our summaryCompany reported severance charges within transaction costs for the Pro Forma fiscal year ended June 30, 2015, totaling $0.8 million.
Word for word“(3) “Transaction costs” of $2.6 million for the Pro Forma fiscal year ended June 30, 2015 includes acquisition-related expenses of $1.8 million related to stay and retention bonuses and $0.8 million related to severance charges.” 10-K for 2017
Our summaryThe company recorded non-recurring severance charges in fiscal 2019 as part of other costs excluded from Adjusted EBITDA.
Word for word“(d) “Other costs” (1) of $11.7 million for the fiscal year ended June 30, 2019 includes non-recurring consulting and business optimization expenses of $6.8 million , a one-time contract cancellation expense of $2.4 million , a one-time inventory write-off of $1.6 million , and $0.9 million in non-recurring severance charges; (2) of $1.1 million for the fiscal year ended June 30, 2018 includes severance charges associated with the retirement of our former Chief Financial Officer; (3) of $4.8 million for the fiscal year ended June 30, 2017 includes $3.6 million related to certain non-recurring costs incurred in the development of our new cloud service offerings, certain unusual legal expenses of $0.9 million and $0.3 million related to other non-recurring items; (4) of $5.6 million for the fiscal year ended June 30, 2016 includes expenses of $0.5 million associated with the integration of previously acquired managed services platforms into one system, $3.4 million related to certain non-recurring costs incurred in the development of our new cloud service offerings, certain expenses of $0.5 million related to unusual office start-up development costs and certain unusual legal expenses of $1.2 million; (5) of $1.9 million for the Successor period from November 20, 2014 to June 30, 2015 includes expenses of $1.0 million associated with the integration of previously acquired managed services platforms into one system, $0.7 million related to certain non-recurring costs incurred in the development of our new cloud service offerings and certain unusual legal expenses of $0.2 million; and (6) of $4.5 million for the Predecessor period from July 1, 2014 to February 1, 2015 includes expenses of $2.2 million associated with the integration of previously acquired managed services platforms into one system, certain expenses of $0.4 million related to unusual office start-up development costs, $1.6 million related to payments to our former sponsor for advisory and consulting services and $0.3 million related to other non-recurring items.” 10-K for 2019
Presidio 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 Presidio’s annual reports (10-K for 2019, 10-K for 2018, 10-K for 2017) and the financial data it files with the SEC, as of 2019-08-29. 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.