Terminix Global layoffs, on the record
Every job cut, severance charge and restructuring Terminix Global reported in its annual reports, 2019 to 2021, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2019 | approximately 12,000 | during 2019 |
| 10-K for 2021 | approximately 10,000 teammates in the U.S. and 1,700 teammates outside the U.S. | — |
Job cuts, severance and restructuring
Our summaryTerminix recorded lease termination and severance costs within its restructuring charges, totaling $5 million for 2019.
Word for word“(1) For the years ended December 31, 2019 and 2018, these charges include $5 million and $2 million, respectively, of lease termination and severance costs.” 10-K for 2019
Our summaryServiceMaster Brands recorded severance and other costs related to the reorganization of the business.
Word for word“(2) Represents severance and other costs related to the reorganization of ServiceMaster Brands.” 10-K for 2019
Our summaryCorporate and Other Operations recorded severance and other costs as part of ongoing changes to reduce corporate function costs.
Word for word“For the years ended December 31, 2019 and 2018, these charges also included $1 million and $3 million, respectively, of severance and other costs.” 10-K for 2019
Our summaryThe company recorded restructuring and other charges, including Global Service Center relocation costs and accelerated depreciation on systems being replaced.
Word for word“We incurred restructuring charges of $15 million and $17 million for the years ended December 31, 2019 and 2018, respectively.” 10-K for 2019
Our summaryRecorded restructuring and other charges in 2020, including headquarter operations severance and field operations lease termination and severance costs.
Word for word“We incurred restructuring charges of $16 million, $12 million and $17 million for the years ended December 31, 2020, 2019, and 2018, respectively.” 10-K for 2020
Our summaryRecorded headquarter severance and retention bonuses tied to the sale of the ServiceMaster Brands Divestiture Group and related corporate function changes in 2020.
Word for word“For the year ended December 31, 2020, includes severance and charges to enhance capabilities and reduce costs in our corporate functions that provide administrative services to support operations and other costs to enhance capabilities and align functions after the sale of the ServiceMaster Brands Divestiture Group of $8 million and retention bonuses to employees key to effecting the sale of the ServiceMaster Brands Divestiture Group of $1 million.” 10-K for 2020
Our summaryRecorded field operations lease termination and severance costs in 2020, including impairment of a former call center's right of use assets.
Word for word“For the years ended December 31, 2020, 2019 and 2018, these charges included $6 million, $5 million and $2 million, respectively of lease termination and severance costs.” 10-K for 2020
Our summaryPaid cash for restructuring and other charges during 2020.
Word for word“Net cash provided from operating activities in 2020 comprised $242 million in earnings adjusted for non-cash charges, offset, in part, by $49 million in payments on the Mobile Bay Formosan termite settlement, $12 million in payments related to restructuring and other charges, $5 million in payments related to acquisition-related costs and a $22 million decrease in cash required for working capital (a $3 million decrease excluding the working capital impact of accrued interest and taxes).” 10-K for 2020
Our summaryThe company recorded restructuring charges for 2021, mainly costs tied to the proposed Rentokil acquisition, plus severance and back-office simplification costs after the sale of the ServiceMaster Brands Divestiture Group.
Word for word“We incurred restructuring charges of $19 million, $16 million and $12 million for the years ended December 31, 2021, 2020, and 2019, respectively.” 10-K for 2021
Our summaryThe company explained that 2021 restructuring charges were mostly Rentokil acquisition costs, while 2021 and 2020 charges also covered severance and back-office simplification after the divestiture.
Word for word“Restructuring Charges in 2021 primarily included costs related to the proposed acquisition by Rentokil and for 2021 and 2020 severance and costs to simplify our back-office and align administrative functions as a singularly focused pest management company following the sale of the ServiceMaster Brands Divestiture Group.” 10-K for 2021
Our summaryThe company reported severance and related charges to align functions after the divestiture and spin-off, enhance field operations and corporate capabilities, and reduce corporate administrative costs.
Word for word“(1) Includes severance and related charges to align functions after the sale of the ServiceMaster Brands Divestiture Group and the American Home Shield spin-off, enhance field operations and corporate capabilities and r educe costs in our corporate functions that provide administrative services to support operations.” 10-K for 2021
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-12-31 | $15 million | $8 million |
| 2017-12-31 | $21 million | $6 million |
| 2018-12-31 | $17 million | $14 million |
| 2019-12-31 | $12 million | $17 million |
| 2020-12-31 | $16 million | $12 million |
| 2021-12-31 | $19 million | $10 million |
Terminix Global 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 Terminix Global’s annual reports (10-K for 2021, 10-K for 2020, 10-K for 2019) and the financial data it files with the SEC, as of 2022-03-01. 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.