TravelCenters of America layoffs, on the record
Every job cut, severance charge and restructuring TravelCenters of America reported in its annual reports, 2020 to 2022, quoted from the filings. Headcount went from approximately 18,700 to approximately 18,500.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2020 | approximately 18,700 | December 31, 2020 |
| 10-K for 2021 | approximately 18,000 | As of December 31, 2021 |
| 10-K for 2022 | approximately 18,500 | December 31, 2022 |
Job cuts, severance and restructuring
Our summaryFurloughed field and corporate employees in response to the COVID-19 pandemic, with many returning to work from May to December 2020.
Word for word“we have rationalized our hours of operation and employment levels, including furloughing approximately 4,300 field employees, and approximately 120 corporate employees.” 10-K for 2020
Our summaryImplemented a workforce reduction that eliminated positions and repositioned certain management staff.
Word for word“In April 2020, we implemented a workforce reduction, pursuant to which we eliminated approximately 130 positions and repositioned certain of our management staff.” 10-K for 2020
Our summaryCommunicated the Reorganization Plan to affected employees, with costs mainly for severance, outplacement, accelerated stock awards and executive recruitment fees.
Word for word“On April 30, 2020, the Reorganization Plan was communicated to those employees impacted.” 10-K for 2020
Our summaryRecognized Reorganization Plan costs, primarily severance and related items, in selling, general and administrative expense.
Word for word“For the year ended December 31, 2020, we recognized Reorganization Plan costs of $ 4,288 , which are comprised primarily of severance, outplacement services, stock based compensation expense associated with the accelerated vesting of previously granted stock awards for certain employees and fees for recruitment of certain executive positions.” 10-K for 2020
| Fiscal year ended | Restructuring costs incurred |
|---|---|
| 2020-12-31 | $4.3 million |
TravelCenters of America 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 TravelCenters of America’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 2023-03-01. 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.