R1 RCM layoffs, on the record
Every job cut, severance charge and restructuring R1 RCM reported in its annual reports, 2022 to 2023, quoted from the filings. Headcount went from approximately 27,800 to approximately 30,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | approximately 27,800 | December 31, 2022 |
| 10-K for 2023 | approximately 30,000 | December 31, 2023 |
Job cuts, severance and restructuring
Our summaryReported other expenses that include severance and related employee benefits tied to restructuring and business reorganization events.
Word for word“Severance and related employee benefits (1) $ 1.2 $ 2.2 $ 6.4 Business acquisition costs (2) 74.5 4.0 16.7 Integration costs (3) 40.2 2.6 5.4 Strategic initiatives (4) 23.2 9.1 7.2 Global business services center expansion project in the Philippines (5) 26.7 1.8 — Customer employee transition and restructuring expenses (6) ( 0.4 ) 4.9 ( 0.2 ) Facility-exit charges (7) 7.9 3.4 17.5 Other (8) 10.2 18.1 14.3 Total other expenses $ 183.5 $ 46.1 $ 67.3 (1) These costs relate to restructuring and business reorganization events.” 10-K for 2022
Our summaryIncurred severance costs for personnel whose roles were relocated as part of establishing a global business services center in the Philippines.
Word for word“These costs include legal and consulting fees related to the establishment of the Company's inaugural global business services center in the Philippines as well as severance costs for personnel whose roles are being relocated.” 10-K for 2022
Our summaryAgreed to reimburse customers, or directly pay affected employees, for severance and retention costs for certain employees not transitioned to the Company.
Word for word“As part of the transition of customer personnel to the Company under certain operating partner model contracts, the Company agreed to reimburse the customer, or directly pay affected employees, for severance and retention costs related to certain employees who were not transitioned to the Company, or whose jobs were relocated after the employee transitioned to the Company.” 10-K for 2022
Our summaryExited certain leased facilities as part of evaluating its footprint.
Word for word“As part of evaluating its footprint, the Company has exited certain leased facilities.” 10-K for 2022
Our summaryThe company reported strategic initiatives costs tied mainly to business restructuring for its growth strategy, including consulting, compensation and severance.
Word for word“(4) Costs primarily relate to business restructuring activities as part of the Company’s growth strategy and include consulting costs, compensation costs of employees dedicated to the Company’s growth strategy efforts, and severance.” 10-K for 2023
Our summaryThe company incurred severance costs for personnel whose roles were relocated to its new Philippines global business services center, and finished the project in 2022.
Word for word“(5) These costs include legal and consulting fees related to the establishment of the Company’s inaugural global business services center in the Philippines as well as severance costs for personnel whose roles are being relocated.” 10-K for 2023
Our summaryThe company agreed to cover severance and retention costs for customer employees who were not transitioned to it or whose jobs were relocated after transition.
Word for word“(6) As part of the transition of customer personnel to the Company under certain operating partner model contracts, the Company agreed to reimburse the customer, or directly pay affected employees, for severance and retention costs related to certain employees who were not transitioned to the Company, or whose jobs were relocated after the employee transitioned to the Company.” 10-K for 2023
| Fiscal year ended | Severance costs |
|---|---|
| 2020-12-31 | $6.4 million |
| 2021-12-31 | $2.2 million |
| 2022-12-31 | $1.2 million |
R1 RCM 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 R1 RCM’s annual reports (10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2024-02-27. 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.