Technip Energies layoffs, on the record
Every job cut, severance charge and restructuring Technip Energies reported in its annual reports, 2021, quoted from the filings.
Job cuts, severance and restructuring
Our summaryThe company recorded restructuring expenses, mainly severance and COVID-19 costs in 2020, partly offset in 2021 by higher separation costs tied to the spin-off.
Word for word“Impairment, restructuring and other expense (income) decreased by 66.8%, or €64.3 million, to an expense of €32.0 million for the year ended December 31, 2021, from an expense of €96.3 million for the year ended December 31, 2020, primarily due to severance and COVID-19 costs recorded as a one-off in 2020 partially offset by increase of the separation costs linked to the spin-off activities occurred in 2021.” 20-F for 2021
Our summaryThe company reported higher restructuring and other expenses in 2020, mostly one-off costs of a cost reduction program, spin-off separation costs and COVID-19 expenses.
Word for word“This increase consisted primarily of one-off costs associated with the cost reduction program, separation costs related to the spin-off transaction, and direct COVID-19 expenses.” 20-F for 2021
Technip Energies 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 Technip Energies’s annual reports (20-F for 2021) and the financial data it files with the SEC, as of 2022-03-25. 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.