Rockwell Collins layoffs, on the record
Every job cut, severance charge and restructuring Rockwell Collins reported in its annual reports, 2016 to 2018, quoted from the filings. Headcount went from approximately 19,000 to approximately 31,200.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2016 | approximately 19,000 | September 30, 2016 |
| 10-K for 2017 | approximately 29,000 employees | September 30, 2017 |
| 10-K for 2018 | approximately 31,200 | As of September 30, 2018 |
Job cuts, severance and restructuring
Our summaryCompany recorded a first-quarter 2016 corporate restructuring and asset impairment charge, mainly for employee separation costs tied to a voluntary separation incentive program.
Word for word“During the first quarter of 2016, the Company recorded corporate restructuring and asset impairment charges totaling $45 million as follows: (in millions) Cost of Sales Selling, General and Administrative Expenses Total Employee separation costs $ 31 $ 8 $ 39 Asset impairment charges 2 4 6 Restructuring and asset impairment charges $ 33 $ 12 $ 45 The 2016 employee separation costs primarily resulted from the Company's execution of a voluntary separation incentive program in response to certain challenging market conditions, particularly in business aviation.” 10-K for 2016
Our summaryCompany recorded 2014 pension settlement and restructuring charges, including employee severance from consolidating and closing two service centers.
Word for word“In 2014, the Company recorded pension settlement and restructuring charges totaling $9 million .” 10-K for 2016
Our summaryCompany carried out a voluntary separation incentive program in response to challenging market conditions, particularly in business aviation, recording corporate restructuring and asset impairment charges.
Word for word“During the first quarter of 2016, the Company recorded corporate restructuring and asset impairment charges of $45 million .” 10-K for 2017
Our summaryEmployee separation costs from the voluntary separation incentive program were all paid out.
Word for word“All employee separation costs were paid in 2016.” 10-K for 2017
Our summaryCompany recorded international customer bankruptcy and employee severance charges in Commercial Systems.
Word for word“a $12 million increase in international customer bankruptcy and employee severance charges in 2017” 10-K for 2017
Our summaryCompany recorded restructuring and asset impairment charges, primarily employee severance, in its results for the year.
Word for word“In addition, income from continuing operations includes $28 million of restructuring and asset impairment charges ($45 million before income taxes) primarily related to employee severance costs.” 10-K for 2017
Our summaryThe company recorded corporate charges in fiscal 2018 for a contract settlement, asset impairments and employee separation costs.
Word for word“During the year ended September 30, 2018 the Company recorded corporate charges of $39 million as follows: (in millions) Cost of Sales Other Income, Net Total Settlement of a contract matter $ 25 $ — $ 25 Asset impairment charges — 9 9 Employee separation costs 5 — 5 Total $ 30 $ 9 $ 39 The $25 million charge for the settlement of a contract matter was triggered by the anticipated divestiture of the ElectroMechanical Systems business and included impairment of $7 million and $4 million of Commercial Systems Pre-production engineering costs and Property, net, respectively (see Note 4).” 10-K for 2018
Our summaryThe company recorded restructuring and asset impairment charges in the first quarter of 2016, mostly employee separation costs from a voluntary separation incentive program.
Word for word“During the first quarter of 2016, the Company recorded corporate restructuring and asset impairment charges of $45 million as follows: (in millions) Cost of Sales Selling, General and Administrative Expenses Total Employee separation costs $ 31 $ 8 $ 39 Asset impairment charges 2 4 6 Total $ 33 $ 12 $ 45 The employee separation costs primarily resulted from the Company's execution of a voluntary separation incentive program in response to certain challenging market conditions, particularly in business aviation.” 10-K for 2018
| Fiscal year ended | Severance costs | Restructuring charges |
|---|---|---|
| 2017-09-30 | — | $0 |
| 2018-09-30 | $5 million | — |
Rockwell Collins 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 Rockwell Collins’s annual reports (10-K for 2018, 10-K for 2017, 10-K for 2016) and the financial data it files with the SEC, as of 2018-11-26. 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.