Roadrunner Transportation Systems layoffs, on the record
Every job cut, severance charge and restructuring Roadrunner Transportation Systems reported in its annual reports, 2017 to 2019, quoted from the filings. Headcount went from approximately 4,600 to approximately 3,600.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2017 | approximately 4,600 | December 31, 2017 |
| 10-K for 2018 | approximately 4,600 | December 31, 2018 |
| 10-K for 2019 | approximately 3,600 | December 31, 2019 |
Job cuts, severance and restructuring
Our summaryCompany recorded restructuring and restatement costs tied to legal, consulting and accounting matters, including internal and external investigations, SEC and accounting compliance, and restructuring.
Word for word“Plus: Restructuring and restatement costs 32,321 — — — — Plus: Adjustments for contingent purchase obligation — (2,458 ) (2,931 ) (1,722 ) (10,443 ) Adjusted EBITDA (1) $ 5,028 $ 7,806 $ 93,566 $ 91,103 $ 85,356 (1) EBITDA represents earnings before interest, taxes, depreciation and amortization.” 10-K for 2017
Our summaryExecutive officer Mr. DiBlasi's employment was terminated, and he received severance payments.
Word for word“DiBlasi’s employment was terminated effective April 30, 2017. (11) Includes $333,402 of severance payments made to Mr. DiBlasi following the termination of his employment.” 10-K for 2017
Our summaryExecutive officer Mr. Armbruster's employment was terminated, and he received severance payments.
Word for word“Mr Armbruster’s employment was terminated effective March 29, 2017. (13) Includes $239,998 of severance payments made to Mr. Armbruster following the termination of his employment.” 10-K for 2017
Our summaryIn the second quarter of 2018, the company restructured its temperature-controlled truckload business by integrating multiple operating companies into one business unit and right-sizing fleets, facilities and support functions, including severance costs.
Word for word“In the second quarter of 2018, the Company restructured its temperature-controlled truckload business by completing the integration of multiple operating companies into one business unit.” 10-K for 2018
Our summaryThe restructuring costs covered fleet and facilities right-sizing and relocation, severance, and write-down of assets to fair market value.
Word for word“As a result, in the second quarter of 2018 , the Company recorded operations restructuring costs of $4.7 million , related to fleet and facilities right-sizing and relocation costs, severance costs, and the write-down of assets to fair market value .” 10-K for 2018
Our summaryCorporate restructuring and restatement costs were incurred for legal, consulting and accounting matters, including investigations, SEC compliance and restructuring.
Word for word“The Company also incurred corporate restructuring and restatement costs associated with legal, consulting and accounting matters, including internal and external investigations, SEC and accounting compliance, and restructuring of $22.2 million and $32.3 million for the years ended December 31, 2018 and 2017 , respectively.” 10-K for 2018
Our summaryThe company announced the downsizing of its unprofitable dry van truckload business, cutting fleets, closing terminals and eliminating positions, and recorded restructuring costs.
Word for word“As a result, the Company recorded operations restructuring costs of $20.6 million related to fleet reductions, terminal closings, and severance costs.” 10-K for 2019
Our summaryThe company restructured its temperature-controlled truckload business by merging several operating companies into one unit, and recorded restructuring costs including severance.
Word for word“As a result, the Company recorded operations restructuring costs of $4.7 million , related to fleet and facilities right-sizing and relocation costs, severance costs, and the write-down of assets to fair market value .” 10-K for 2019
Our summaryThe company said it has made or is making cost reductions, including headcount reductions, and expects further headcount reductions to meet its liquidity needs.
Word for word“We have implemented or are in the process of implementing cost reductions and taken other actions including; headcount reductions, voluntary delisting and deregistration with the SEC, business restructuring, and sales of operating companies and other assets, to reduce our liquidity needs.” 10-K for 2019
Roadrunner Transportation Systems filed 1 restructuring notice (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Roadrunner Transportation Systems’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 2020-03-30. 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.