Unique Logistics International layoffs, on the record
Every job cut, severance charge and restructuring Unique Logistics International reported in its annual reports, 2022 to 2024, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | 10 dedicated employees | — |
Job cuts, severance and restructuring
Our summaryThe filing mentions a restructuring, transition and acquisitions expense only as a component of its adjusted EBITDA definition, with no specific restructuring program or layoff described.
Word for word“We define adjusted EBITDA to be earnings before interest, taxes, depreciation and amortization, factoring fees, other income, net, stock-based compensation and expenses, merger and acquisition costs, restructuring, transition and acquisitions expense, net, goodwill impairment and certain other items.” 10-K for 2022
Our summaryRestructured current liabilities owed after the ULHK Entities Acquisition into long-term debt. This is a debt restructuring, not a workforce reduction.
Word for word“Since the acquisition, during its last fiscal quarter, the Company has paid off $10.3 million of the promissory notes issued to ULHK, restructured $7.3 million in current liabilities into long term debt and eliminated contingent liabilities in the amount of $1.8 million, leaving the balance of the current debt due to ULHK at $4.5 million on May 31, 2023 a reduction of $19.3 million in current portion of long term debt since the acquisition.” 10-K for 2023
Unique Logistics International 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 Unique Logistics International’s annual reports (10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2024-10-17. 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.