Quebecor Media layoffs, on the record
Every job cut, severance charge and restructuring Quebecor Media reported in its annual reports, 2019 to 2021, quoted from the filings. Headcount went from 10,038 to 9,172.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 20-F for 2019 | 10,038 | December 31, 2019 |
| 20-F for 2020 | 9,787 | December 31, 2020 |
| 20-F for 2021 | 9,172 | December 31, 2021 |
Job cuts, severance and restructuring
Our summaryRecorded a net restructuring charge tied to cost-reduction initiatives across the company's segments.
Word for word“A $9.8 million net restructuring charge was recognized in 2019 in connection with cost-reduction initiatives in the Corporation’s various segments ($14.2 million in 2018).” 20-F for 2019
Our summaryRecognized an impairment charge on assets linked to restructuring initiatives, mainly in the Telecommunications segment.
Word for word“An $18.8 million charge for impairment of assets was also recognized in 2019 in connection with restructuring initiatives ($14.9 million in 2018).” 20-F for 2019
Our summaryRecorded a net charge for cost-reduction initiatives in the fourth quarter of 2019.
Word for word“A $1.6 million net charge was recognized in the fourth quarter of 2019 in connection with cost-reduction initiatives in the Corporation’s various segments ($7.0 million in the fourth quarter of 2018).” 20-F for 2019
Our summaryRecorded charges for cost-reduction initiatives, customer migration and legal developments in 2017, with a 2018 charge for cost-reduction initiatives and asset disposals.
Word for word“A $14.2 million charge was recognized in 2018 in connection with cost-reduction initiatives in the Corporation’s various segments and with disposal of assets.” 20-F for 2019
Our summaryThe company recorded a net restructuring charge tied to cost-reduction initiatives across its various segments in 2020.
Word for word“In 2020, a charge of $30.7 million was recorded in connection with cost reduction initiatives in the Corporation's various segments ($9.8 million in 2019 and $14.2 million in 2018 which were related to cost reduction initiatives and disposal of assets).” 20-F for 2020
Our summaryThe company recorded an impairment charge on assets as a result of restructuring initiatives in 2020.
Word for word“In 2020, an impairment charge on assets of $8.5 million was also recorded as a result of restructuring initiatives ($18.8 million in 2019 and $14.9 million in 2018).” 20-F for 2020
Our summaryThe company reported total restructuring of operations and other items charges for 2020 and the prior year.
Word for word“Charge for restructuring of operations and other items: $39.2 million in 2020 compared with $28.6 million in 2019, a $10.6 million increase.” 20-F for 2020
Our summaryThe company recorded a fourth-quarter restructuring charge tied to cost-reduction initiatives in its segments.
Word for word“A $4.9 million charge was recognized in the fourth quarter of 2020 in connection with cost-reduction initiatives in the Corporation's various segments ($1.6 million in the fourth quarter of 2019).” 20-F for 2020
Our summaryThe company recorded a restructuring charge in 2021 for cost-reduction measures across its segments, plus a smaller asset impairment charge tied to restructuring initiatives.
Word for word“● A $25.3 million charge was recognized in 2021 in connection with cost-reduction measures in the Corporation’s various segments ($31.6 million in 2020).” 20-F for 2021
Our summaryThe company recorded a restructuring charge in the fourth quarter of 2021 for cost-reduction initiatives across its segments.
Word for word“● A $7.5 million charge was recognized in the fourth quarter of 2021 in connection with cost-reduction initiatives in the Corporation’s various segments ($5.4 million in the fourth quarter of 2020).” 20-F for 2021
Quebecor Media 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 Quebecor Media’s annual reports (20-F for 2021, 20-F for 2020, 20-F for 2019) and the financial data it files with the SEC, as of 2022-03-25. 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.