Tribune Media layoffs, on the record
Every job cut, severance charge and restructuring Tribune Media reported in its annual reports, 2016 to 2018, quoted from the filings. Headcount went from approximately 8,200 to approximately 5,800.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2016 | approximately 8,200 | December 31, 2016 |
| 10-K for 2017 | approximately 6,000 | December 31, 2017 |
| 10-K for 2018 | approximately 5,800 | As of December 31, 2018 |
Job cuts, severance and restructuring
Our summaryThe company recorded pretax employee severance and termination charges, mainly in its Television and Entertainment segment and in Corporate and Other.
Word for word“We recorded pretax charges, mainly consisting of employee severance costs and associated termination benefits, totaling $10 million , $5 million and $3 million in 2016 , 2015 and 2014 , respectively.” 10-K for 2016
Our summaryThe company recorded severance and related expenses within discontinued operations, net of taxes.
Word for word“Severance and related expenses included in income (loss) from discontinued operations, net of taxes totaled $0.5 million , $1 million and $10 million in 2016 , 2015 and 2014 , respectively.” 10-K for 2016
Our summaryThe accrued liability for severance and related expenses stood at year end 2016.
Word for word“The accrued liability for severance and related expenses was $9 million and $4 million at December 31, 2016 and December 31, 2015 , respectively.” 10-K for 2016
Our summarySeverance expense in the Television and Entertainment segment rose, contributing to higher compensation expense.
Word for word“Severance expense was $9 million in 2016 compared to $2 million in 2015.” 10-K for 2016
Our summaryCompany recorded pretax charges mainly for employee severance and related termination benefits across operations and corporate.
Word for word“We recorded pretax charges, mainly consisting of employee severance costs, associated termination benefits and related expenses totaling $5 million , $10 million and $5 million in 2017 , 2016 and 2015 , respectively.” 10-K for 2017
Our summaryCompany recorded severance and related charges for Television and Entertainment and Corporate and Other segments, totaling $4,739 thousand in 2017.
Word for word“The following table summarizes these severance and related charges included in income (loss) from continuing operations by business segment for 2017 , 2016 and 2015 (in thousands): 2017 2016 2015 Television and Entertainment $ 4,367 $ 9,228 $ 2,317 Corporate and Other 372 1,178 2,959 Total $ 4,739 $ 10,406 $ 5,276 Severance and related expenses included in income (loss) from discontinued operations, net of taxes totaled $0.5 million and $1 million in 2016 and 2015 , respectively.” 10-K for 2017
Our summaryCompany recorded severance expense of $6 million related to the resignation of the CEO in the first quarter of 2017, included in corporate expenses.
Word for word“Corporate expenses increased 6% , or $7 million , in 2017 primarily due to a $5 million increase in compensation expense as a result of $6 million of severance expense related to the resignation of the CEO in the first quarter of 2017, a $5 million increase in transaction related bonuses, and a $2 million increase in outside services, partially offset by a $4 million decrease in equity compensation and a $2 million decrease in other compensation.” 10-K for 2017
Our summaryCompany reported an accrued liability for severance and related expenses at year end.
Word for word“The accrued liability for severance and related expenses was $5 million and $9 million at December 31, 2017 and December 31, 2016 , respectively.” 10-K for 2017
Our summaryThe company recorded pretax charges, mainly employee severance costs, termination benefits and related expenses, for employee reductions in 2018, 2017 and 2016.
Word for word“We recorded pretax charges, mainly consisting of employee severance costs, associated termination benefits and related expenses totaling $7 million , $5 million and $10 million in 2018 , 2017 and 2016 , respectively.” 10-K for 2018
Tribune Media 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 Tribune Media’s annual reports (10-K for 2018, 10-K for 2017, 10-K for 2016) and the financial data it files with the SEC, as of 2019-03-01. 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.