Radius Recycling layoffs, on the record
Every job cut, severance charge and restructuring Radius Recycling reported in its annual reports, 2022 to 2024, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | 3,471 | August 31, 2022 |
| 10-K for 2023 | 3,353 full-time employees | August 31, 2023 |
| 10-K for 2024 | 3,011 full-time employees | August 31, 2024 |
Job cuts, severance and restructuring
Our summaryCompany reports restructuring initiatives in fiscal 2020 aimed at reducing operating expenses, including headcount reductions and lower employee-related expenses.
Word for word“During fiscal 2020, the Company incurred severance costs of $ 2 million, exit-related costs associated with a lease contract termination of $ 1 million, and professional services costs related to these initiatives of $ 6 million.” 10-K for 2022
Our summaryThe company recorded restructuring charges and other exit-related activities in fiscal 2023, which the filing shows as a separate line in its statement of operations.
Word for word“Restructuring charges and other exit-related activities 2,730 77 1,008 Operating (loss) income ( 3,925 ) 225,906 213,729 Interest expense ( 18,589 ) ( 8,538 ) ( 5,285 )” 10-K for 2023
Our summaryThe company describes past productivity, cost savings and restructuring initiatives that reduced operating expenses through headcount reductions and other measures.
Word for word“During the past several years, we implemented a number of productivity improvement, cost savings, and restructuring initiatives designed to reduce operating expenses and improve profitability and to achieve further integration and synergistic cost efficiencies in our operating platform.” 10-K for 2023
Our summaryThe company recorded restructuring charges and other exit-related costs in fiscal 2024 tied to its productivity and cost reduction plans, up from fiscal 2023.
Word for word“During fiscal 2024, we incurred $7 million of restructuring charges and other exit-related costs in connection with these plans, compared to $3 million in fiscal 2023.” 10-K for 2024
| Fiscal year ended | Severance costs |
|---|---|
| 2020-08-31 | $2 million |
Radius Recycling 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 Radius Recycling’s annual reports (10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2024-10-24. 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.