Stratrix
On the Record · Syneos Health

Syneos Health layoffs, on the record

Every job cut, severance charge and restructuring Syneos Health reported in its annual reports, 2020 to 2022, quoted from the filings. Headcount went from 24,310 to 29,395.

Headcount, as reported

Annual reportEmployeesAs of
10-K for 202024,310December 31, 2020
10-K for 202127,525December 31, 2021
10-K for 202229,395December 31, 2022

Job cuts, severance and restructuring

  1. Our summaryCompany recognized employee severance costs, facility closure costs and other costs related to optimizing its resources worldwide, as part of restructuring the operations. During the year ended December 31, 2020 · Cost: approximately $26.3 million of employee severance costs, facility closure and lease termination costs of $2.3 million, and other costs of $0.8 million

    Word for word“During the year ended December 31, 2020, we recognized approximately $26.3 million of employee severance costs, facility closure and lease termination costs of $2.3 million, and other costs of $0.8 million related to our focus on optimizing our resources worldwide.” 10-K for 2020

  2. Our summaryCompany recorded restructuring and other costs, including Merger-related and non Merger-related employee severance and benefit costs, in 2020.

    Word for word“Non Merger-related restructuring and other costs: Employee severance and benefit costs 25,370 13,214 5,410 Facility and lease termination costs 580 3,262 1,567 Other costs 780 690 1,145 Total restructuring and other costs $ 29,414 $ 42,135 $ 50,793 We expect to continue to incur significant costs related to the restructuring of our operations.” 10-K for 2020

  3. Our summaryCompany established a Merger-related restructuring plan to eliminate redundant positions and reduce its facility footprint worldwide, which contributed to restructuring costs in 2020 and 2019. Affected: Redundant positions

    Word for word“In connection with the Merger, we established a restructuring plan to eliminate redundant positions and reduce our facility footprint worldwide that partially contributed to our restructuring costs incurred in 2020 and 2019.” 10-K for 2020

  4. Our summaryCompany recognized restructuring costs tied to its focus on optimizing resources worldwide, including employee severance, facility closure and lease termination costs, and other costs during 2021. During the year ended December 31, 2021 · Cost: approximately $14.5 million of employee severance costs, facility closure and lease termination costs of $8.2 million, and other costs of $0.1 million

    Word for word“During the year ended December 31, 2021, we recognized approximately $14.5 million of employee severance costs, facility closure and lease termination costs of $8.2 million, and other costs of $0.1 million related to our focus on optimizing our resources worldwide.” 10-K for 2021

  5. Our summaryCompany reported total restructuring and other costs for 2021, primarily tied to its ForwardBound margin enhancement initiative and ongoing workforce and facilities evaluations. Cost: Restructuring and other costs were $22.8 million

    Word for word“Restructuring and other costs were $22.8 million and $29.4 million for the years ended December 31, 2021 and 2020, respectively.” 10-K for 2021

  6. Our summaryCompany said it expects to keep incurring restructuring costs and may incur more during and beyond 2022 under its ForwardBound initiative.

    Word for word“We may also continue to incur additional restructuring and other costs during and beyond 2022 related to our ForwardBound margin enhancement initiative.” 10-K for 2021

  7. Our summaryThe company recognized employee severance costs, facility closure and lease termination costs, and other costs from optimizing its resources worldwide during 2022. During the year ended December 31, 2022 · Cost: approximately $33.5 million of employee severance costs, facility closure and lease termination costs of $19.1 million, and $4.0 million of other costs

    Word for word“During the year ended December 31, 2022, we recognized approximately $33.5 million of employee severance costs, facility closure and lease termination costs of $19.1 million, and $4.0 million of other costs related to optimizing our resources worldwide.” 10-K for 2022

  8. Our summaryThe company reported restructuring and other costs for 2022 tied to margin enhancement initiatives and streamlining its Clinical Solutions segment operations. for the years ended December 31, 2022 and 2021 · Cost: $56.6 million and $22.8 million

    Word for word“Restructuring and other costs were $56.6 million and $22.8 million for the years ended December 31, 2022 and 2021, respectively.” 10-K for 2022
As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year endedRestructuring chargesRestructuring costs incurredCash paid for restructuring
2016-12-31$13.6 million$13.6 million$10.3 million
2017-12-31—$17.8 million—
2018-12-31—$8.1 million—
2019-12-31—$42.1 million—
2020-12-31—$29.4 million—
2021-12-31—$22.8 million—

Syneos Health 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 Syneos Health’s annual reports (10-K for 2022, 10-K for 2021, 10-K for 2020) and the financial data it files with the SEC, as of 2023-02-16. 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.