Teledyne FLIR layoffs, on the record
Every job cut, severance charge and restructuring Teledyne FLIR reported in its annual reports, 2018 to 2020, quoted from the filings. Headcount went from 3,649 to 4,179.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2018 | 3,649 | December 31, 2018 |
| 10-K for 2019 | 4,265 | December 31, 2019 |
| 10-K for 2020 | 4,179 | December 31, 2020 |
Job cuts, severance and restructuring
Our summaryRecorded net pre-tax restructuring expenses of $8.2 million in 2018, including $3.3 million in cost of goods sold and $4.9 million in operating expenses, tied to the 2013 realignment plan and other cost reduction initiatives.
Word for word“During the years ended December 31, 2018, 2017 and 2016 , we recorded net pre-tax restructuring expenses totaling $8.2 million , $0.6 million and $1.4 million , respectively.” 10-K for 2018
Our summaryCompleted the 2013 realignment plan, which had included closing six not-to-scale sites in the United States and Europe and transferring those operations to larger facilities.
Word for word“The 2013 realignment plan was completed in 2018.” 10-K for 2018
Our summaryIncurred other restructuring charges tied to cost reduction initiatives not related to the 2013 realignment plan.
Word for word“During the years ended December 31, 2018, 2017 and 2016 , the Company also incurred other restructuring charges associated with cost reduction initiatives that were not related to the 2013 Realignment Program.” 10-K for 2018
Our summaryRecorded net pre-tax restructuring charges for various active restructuring programs, including targeted workforce reductions, in 2019.
Word for word“During the years ended December 31, 2019, 2018 and 2017 , the Company recorded net pre-tax restructuring charges for these programs totaling approximately $ 10.1 million , $ 4.9 million and $ 0.6 million , respectively, which primarily represent employee termination benefits and costs to consolidate, relocate or discontinue operations.” 10-K for 2019
Our summaryApproved a plan to restructure the Outdoor and Tactical Systems (OTS) reporting unit, discontinuing the thermal and night vision business and refocusing on the Personal Vision System product line.
Word for word“During the fourth quarter of fiscal year 2019, the Company approved a plan to restructure the OTS reporting unit within the Commercial Business Unit ("CBU") operating segment.” 10-K for 2019
Our summaryLaunched Project Be Ready, a strategy-driven restructuring plan including organizational realignment and targeted workforce reductions, with estimated total costs and separation costs.
Word for word“In February 2020, the Company initiated a strategy-driven restructuring plan, Project Be Ready, to simplify the Company's product portfolio and better align resources with higher growth opportunities while reducing costs.” 10-K for 2019
Our summaryConsolidating three business units into two by integrating the Commercial business unit into the Industrial business unit as part of the restructuring.
Word for word“In addition, we will restructure our business units by consolidating from three business units to two by integrating the remaining businesses within the Commercial business unit into the Industrial business unit beginning in the first quarter of 2020.” 10-K for 2019
Our summaryThe company started a strategy-driven restructuring plan called Project Be Ready to simplify its products, align resources with growth areas and cut costs, including workforce reductions and facility optimization.
Word for word“In the first quarter of 2020, we initiated a strategy-driven restructuring plan, Project Be Ready, to simplify our product portfolio and better align resources with higher growth opportunities while reducing costs.” 10-K for 2020
Our summaryThe company expects total Project Be Ready costs to include a range for employee separation, facility consolidation and third party costs, continuing through 2021.
Word for word“The Company expects to incur total costs of approximately $ 40.0 million to $ 55.0 million related to Project Be Ready, including approximately $ 20.0 million to $ 25.0 million of employee separation costs, approximately $ 5.0 million to $ 10.0 million of facility consolidation expenses, and approximately $ 15.0 million to $ 20.0 million of third party and other costs.” 10-K for 2020
Our summaryIn 2019 and 2018 the company recorded restructuring charges for other restructuring activities, mainly employee termination benefits and costs to consolidate, relocate or discontinue operations.
Word for word“During the years ended December 31, 2019 and 2018, the Company recorded net pre-tax restructuring charges in connection with other restructuring activities totaling approximately $ 10.1 million and $ 4.9 million, respectively, which primarily represented employee termination benefits and costs to consolidate, relocate or discontinue operations.” 10-K for 2020
Our summaryThe company approved a plan to restructure its OTS business unit, discontinuing the thermal and night vision business.
Word for word“During the fourth quarter of 2019, the Company approved a plan to restructure the OTS reporting unit within the Industrial Technologies segment.” 10-K for 2020
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-12-31 | $1.4 million | — |
| 2017-12-31 | $625,000 | — |
| 2018-12-31 | $4.9 million | — |
| 2019-12-31 | $10.1 million | — |
| 2020-12-31 | $30.5 million | $30.1 million |
Teledyne FLIR 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 Teledyne FLIR’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 2021-02-25. 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.