Steris layoffs, on the record
Every job cut, severance charge and restructuring Steris reported in its annual reports, 2016 to 2018, quoted from the filings. Headcount went from approximately 14,000 to approximately 12,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2016 | approximately 14,000 | March 31, 2016 |
| 10-K for 2017 | approximately 12,000 | March 31, 2017 |
| 10-K for 2018 | approximately 12,000 | March 31, 2018 |
Job cuts, severance and restructuring
Our summaryClosure of the Hopkins manufacturing facility in Mentor, Ohio under the Fiscal 2014 Restructuring Plan, with System 1E manufacturing transferred to other North American facilities.
Word for word“This latter restructuring involves primarily the closure of our Hopkins Production Facility in Mentor, Ohio and the transfer of the System 1E manufacturing operations conducted there to other North American manufacturing facilities.” 10-K for 2016
Our summaryFiscal 2014 Restructuring Plan recorded severance and other compensation related costs, shown as a benefit for fiscal 2016.
Word for word“Year Ended March 31, 2016 Fiscal 2014 Restructuring Plan (1) Severance and other compensation related costs $ (1,050 ) Product rationalization 319 Lease termination obligation and other 230 Total restructuring (benefit) charges $ (501 ) (1) Includes $319 in charges recorded in cost of revenues on Consolidated Statements of Income.” 10-K for 2016
Our summaryFiscal 2010 Restructuring Plan, which included elimination of certain positions, is reported with no significant additional expenses expected.
Word for word“In addition, we rationalized certain products and eliminated certain positions.” 10-K for 2016
Our summaryCompany describes its Fiscal 2014 Restructuring Plan, focused on closing the Hopkins manufacturing facility in Mentor, Ohio, with pre-tax expenses totaling $19.0 million to date.
Word for word“We have incurred pre-tax expenses totaling $19.0 million related to these actions, of which $10.9 million was recorded as restructuring expenses and $8.1 million was recorded in cost of revenues, with restructuring expenses of $15.6 million, $1.3 million, $0.8 million, and $1.3 million related to the Healthcare Products, Healthcare Specialty Services, Life Sciences and Applied Sterilization Technologies segments, respectively.” 10-K for 2017
Our summaryCompany describes its Fiscal 2010 Restructuring Plan, which included transferring Erie, Pennsylvania operations and eliminating certain positions, with pre-tax expenses to date of $9.3 million.
Word for word“Since the inception of the Fiscal 2010 Restructuring Plan, we have incurred pre-tax expenses totaling $9.3 million related to these actions, of which $8.2 million was recorded as restructuring expenses and $1.1 million was recorded in cost of revenues.” 10-K for 2017
Our summaryCompany reports restructuring expenses of $215 thousand in fiscal 2017 and says it expects no significant additional restructuring expenses under the 2010 plan.
Word for word“Restructuring expenses 215 (820 ) 1,035 NM Total operating expenses $ 798,037 $ 682,554 $ 115,483 16.9 %” 10-K for 2017
| Fiscal year ended | Restructuring charges |
|---|---|
| 2017-03-31 | $215,000 |
| 2018-03-31 | $103,000 |
Steris 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 Steris’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 2018-05-30. 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.