Tupperware Brands layoffs, on the record
Every job cut, severance charge and restructuring Tupperware Brands reported in its annual reports, 2020 to 2022, quoted from the filings. Headcount went from approximately 10,698 to approximately 10,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2020 | approximately 10,698 | As of December 26, 2020 |
| 10-K for 2021 | approximately 10,000 | December 25, 2021 |
Job cuts, severance and restructuring
Our summaryCompany reported re-engineering charges under the Turnaround Plan, announced January 2019 and re-assessed December 2019, mainly for severance costs.
Word for word“The Company incurred $32.2 million and $13.1 million in 2020 and 2019, respectively, primarily related to severance costs.” 10-K for 2020
Our summaryCompany reported total re-engineering charges, including Turnaround plan and 2017 program costs.
Word for word“The re-engineering charges were: Year Ended (In millions) December 26, 2020 December 28, 2019 Turnaround plan $ 33.0 $ 26.4 2017 program 3.1 4.5 Other — 3.8 Total re-engineering charges $ 36.1 $ 34.7 Costs incurred under these programs were included in Consolidated Statements of Income under the following captions: Year Ended (In millions) December 26, 2020 December 28, 2019 Re-engineering charges $ 36.1 $ 34.7 Cost of products sold — 0.9 Selling, general and administrative expense — 0.4 Total re-engineering charges recorded in different line items $ 36.1 $ 36.0 The key elements of the Turnaround Plan include: increasing the Company's rightsizing plans to improve profitability, accelerating the divestiture of non-core assets to strengthen the balance sheet, restructuring the Company’s debt to enhance liquidity, and structurally fixing the Company’s core business to create a more sustainable business model.” 10-K for 2020
Our summaryCompany stated it realized cost savings from the Turnaround Plan.
Word for word“In 2020 the Company realized cost savings of approximately $192 million.” 10-K for 2020
Our summaryCompany incurred re-engineering charges in 2021 under the Turnaround Plan and 2017 program, mainly for severance costs.
Word for word“The Company incurred $8.9 million and $31.4 million in 2021 and 2020, respectively, primarily related to severance costs.” 10-K for 2021
Our summaryCompany incurred re-engineering charges in 2020 under the Turnaround Plan and 2017 program, mainly for severance costs.
Word for word“The Company incurred $31.4 million and $13.1 million in 2020 and 2019, respectively, primarily related to severance costs.” 10-K for 2021
Our summaryBreakdown of re-engineering charges by year, including the Turnaround Plan charges primarily for severance costs and outside consulting services.
Word for word“The Turnaround Plan charges primarily related to severance costs and outside consulting services.” 10-K for 2021
Our summaryAccrued re-engineering liability cash expenditures for severance were recorded during the year.
Word for word“Cash expenditures: Severance ( 12.7 ) ( 29.5 ) Other ( 7.5 ) ( 3.9 )” 10-K for 2021
| Fiscal year ended | Severance costs | Restructuring charges |
|---|---|---|
| 2016-12-31 | $5.4 million | $7.6 million |
| 2017-12-30 | $48.1 million | $66 million |
| 2018-12-29 | $3.6 million | $15.9 million |
| 2019-12-28 | — | $33.8 million |
| 2020-12-26 | $31.4 million | $35.3 million |
| 2021-12-25 | $9.2 million | $14.8 million |
| 2022-12-31 | $27.7 million | $29.4 million |
Tupperware Brands 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 Tupperware Brands’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 2023-10-13. 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.