Supervalu layoffs, on the record
Every job cut, severance charge and restructuring Supervalu reported in its annual reports, 2016 to 2018, quoted from the filings. Headcount went from approximately 38,000 to approximately 31,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2016 | approximately 38,000 | February 27, 2016 |
| 10-K for 2017 | approximately 29,000 | February 25, 2017 |
| 10-K for 2018 | approximately 31,000 | February 24, 2018 |
Job cuts, severance and restructuring
Our summaryRecorded fiscal 2016 pre-tax severance costs of $8 within the company's items for the year.
Word for word“Pre-tax items recorded in fiscal 2016 included $15 of costs related to the potential separation of Save-A-Lot, $12 of store closure and impairment charges, $8 of severance costs and $6 of intangible asset impairment charges.” 10-K for 2016
Our summaryRecorded fiscal 2016 severance costs within Corporate expenses.
Word for word“Corporate expenses for fiscal 2016 include $15 of costs related to the potential separation of Save-A-Lot and $6 of severance costs.” 10-K for 2016
Our summaryRecorded fiscal 2016 severance costs within Save-A-Lot operating earnings.
Word for word“Save-A-Lot operating earnings for fiscal 2016 include $11 of store closure and impairment charges and $2 of severance costs.” 10-K for 2016
Our summaryRecorded fiscal 2015 severance costs of $1 within Selling and administrative expenses.
Word for word“Selling and administrative expenses for last year included net charges and costs of $75 , comprised of non-cash pension settlement charges of $64, a benefit plan charge of $5, store closure and impairment charges of $3, information technology intrusion costs, net of insurance recoverable, of $2 and severance costs of $1.” 10-K for 2016
Our summaryRecorded fiscal 2015 store closure charges of $3 at Save-A-Lot.
Word for word“Save-A-Lot operating earnings for fiscal 2015 included store closure charges of $3.” 10-K for 2016
Our summaryStore closure charges and costs were recorded in fiscal 2017, including impairment, severance and related costs due to store closures.
Word for word“Store closure charges and costs (4) 5 7 — — — Contract breakage costs and certain other charges (5) — — — 6 — Information technology intrusion costs, net of insurance recoverable (6) — — 2 — — Legal settlement gain (7) — — — — (10 ) Severance (benefits) costs (8) (1 ) 6 1 42 32 Sales and use tax refunds (9) (2 ) — — — — Supply agreement termination fees (10) (9 ) — — — — Adjusted EBITDA $ 483 $ 527 $ 550 $ 516 $ 229 (1) Pension settlement charges in fiscal 2017 and 2015 reflect accelerated amortization of accumulated actuarial loss associated with lump sum settlement payments made to certain deferred vested pension plan participants made by the SUPERVALU Retirement Plan under a lump sum payment option window.” 10-K for 2017
Our summarySeverance costs were recorded in fiscal 2016 for separation-related costs of former employees, with a severance benefit reversal recorded in fiscal 2017.
Word for word“Last year’s Selling and 28 Table of Contents administrative expenses included net charges and costs of $13, comprised of store closure charges and costs of $7 and severance costs of $6.” 10-K for 2017
Our summaryStore closure charges and costs were recorded in fiscal 2016 in selling and administrative expenses.
Word for word“Pre-tax items recorded in fiscal 2016 included $7 of store closure charges and costs, $6 of severance costs and $6 of non-cash intangible asset impairment charges.” 10-K for 2017
Our summaryA severance benefit of $1 was recorded in fiscal 2017 as a pre-tax item.
Word for word“Pre-tax items recorded in fiscal 2017 included $42 of non-cash pension settlement charges, a $41 non-cash asset impairment charge, a $15 non-cash goodwill impairment charge and $5 of store closure charges and costs, offset in part by a $9 supply agreement termination fee, a $2 sales and use tax refund and a $1 severance benefit.” 10-K for 2017
Our summarySeverance costs were recorded in fiscal 2014 as pre-tax items, along with accelerated stock-based compensation charges.
Word for word“Pre-tax items recorded in fiscal 2014 included $42 of severance costs and accelerated stock-based compensation charges, $13 of non-cash asset impairment and other charges, $6 of contract breakage and other costs and $3 of multi-employer pension withdrawal charges, offset in part by a $15 gain on sale of property.” 10-K for 2017
Our summarySeverance costs were recorded in fiscal 2013 as pre-tax items.
Word for word“Pre-tax items recorded in fiscal 2013 included $214 of non-cash asset impairment and other charges, $32 of severance costs, $6 of non-cash intangible asset impairment charges and $4 of multi-employer pension withdrawal charges, offset in part by $10 in a cash settlement received from credit card companies.” 10-K for 2017
Our summaryThe company explained that merger and integration costs for the Unified and AG Florida acquisitions mainly reflect employee severance and transition costs, and that it expects them to continue until integration is complete.
Word for word“(1) Merger and integration costs relate to the acquisition and integration of Unified and AG Florida and primarily reflect employee severance and transition costs, acquisition costs and a multiemployer pension withdrawal charge.” 10-K for 2018
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2017-02-25 | $3 million | $9 million |
| 2018-02-24 | $3 million | $7 million |
Supervalu 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 Supervalu’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 2018-04-24. 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.