Sykes Enterprises layoffs, on the record
Every job cut, severance charge and restructuring Sykes Enterprises reported in its annual reports, 2018 to 2020, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2018 | approximately 51,600 | January 31, 2019 |
Job cuts, severance and restructuring
Our summaryInitiated the Americas 2018 Exit Plan, a restructuring to streamline excess capacity through targeted seat reductions, including closing customer contact management centers and consolidating leased space in the U.S. and Canada.
Word for word“During the second quarter of 2018, the Company initiated a restructuring plan to streamline excess capacity through targeted seat reductions (the “Americas 2018 Exit Plan”) in an on-going effort to manage and optimize capacity utilization.” 10-K for 2018
Our summaryRecorded lease obligation and facility exit costs and non-cash impairment charges under the Americas 2018 Exit Plan.
Word for word“The total costs expected to be incurred under the Americas 2018 Exit Plan increased $1.4 million since the initiation of the plan as the Company progressed with its plan and actual costs became known.” 10-K for 2018
Our summaryRecorded impairment of long-lived assets in the Americas, partly tied to fixed assets impaired and disposed of under the Americas 2018 Exit Plan.
Word for word“The increase in depreciation was primarily due to new depreciable fixed assets placed into service supporting site expansions and infrastructure upgrades, partially offset by the impact since the prior period of certain fully depreciated fixed assets and fixed assets that were impaired and disposed of as part of the Americas 2018 Exit Plan.” 10-K for 2018
| Fiscal year ended | Cash paid for restructuring |
|---|---|
| 2016-12-31 | $733,000 |
Sykes Enterprises 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 Sykes Enterprises’s annual reports (10-K for 2020, 10-K for 2019, 10-K for 2018) and the financial data it files with the SEC, as of 2021-02-26. 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.