Tech Data layoffs, on the record
Every job cut, severance charge and restructuring Tech Data reported in its annual reports, 2018 to 2020, quoted from the filings. Headcount went from over 14,000 to over 15,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2018 | over 14,000 | January 31, 2018 |
| 10-K for 2019 | over 14,000 | On January 31, 2019 |
| 10-K for 2020 | over 15,000 | On January 31, 2020 |
Job cuts, severance and restructuring
Our summaryCompany recorded restructuring costs, comprised of severance and facility exit costs, tied to the integration of the TS acquisition.
Word for word“During the year ended January 31, 2018, the Company recorded restructuring costs of $16.1 million in the Americas and $19.0 million in Europe.” 10-K for 2018
Our summaryCompany recorded restructuring expenses that included severance, with a remaining accrued balance at year end.
Word for word“Restructuring activity during the year ended January 31, 2018 is as follows: Severance Facility Exit Costs Total (in thousands) Fiscal 2018 restructuring expenses $ 29,717 $ 5,353 $ 35,070 Cash payments (16,830 ) (3,928 ) (20,758 ) Foreign currency translation 479 205 684 Balance at January 31, 2018 $ 13,366 $ 1,630 $ 14,996” 10-K for 2018
Our summaryBoard approved the Global Business Optimization Program to increase strategic investment and drive productivity, with expected cash charges of about $70 million to $80 million, mostly severance.
Word for word“Under the GBO Program, we expect to incur cash charges of approximately $70 million to $80 million, primarily comprised of $40 million to $45 million of charges in Europe and $30 million to $35 million of charges in the Americas.” 10-K for 2019
Our summaryRecorded fiscal 2019 restructuring expenses under the GBO Program, mainly severance costs.
Word for word“Restructuring expenses for fiscal 2019 related to the GBO Program are comprised of the following: Year ended January 31: 2019 (in thousands) Severance costs $ 26.4 Professional services and facility exit costs 16.1 Total $ 42.5 During fiscal 2019, we recorded restructuring costs related to the GBO Program of $12.1 million in the Americas, $29.0 million in Europe and $1.4 million in Asia-Pacific.” 10-K for 2019
Our summaryRecorded restructuring costs, mainly severance and facility exit, related to the acquisition of TS.
Word for word“Restructuring costs are comprised of severance and facility exit costs.” 10-K for 2019
Our summaryThe company recorded restructuring expenses under the Global Business Optimization Program in fiscal 2020 and 2019.
Word for word“During fiscal 2020 and 2019, we recorded restructuring expenses of $17.4 million and $42.5 million , respectively, associated with the Global Business Optimization Program.” 10-K for 2020
Our summaryThe company recorded restructuring costs (severance and facility exit) tied to the Tech Data Technology Solutions acquisition, with no further costs expected.
Word for word“During fiscal 2019, 2018 and 2017, we recorded acquisition, integration and restructuring expenses of $45.4 million, $136.3 million and $29.0 million, respectively, associated with the acquisition of TS (see Note 6 of Notes to Consolidated Financial Statements for further discussion).” 10-K for 2020
Tech Data 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 Tech Data’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 2020-03-25. 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.