Varian Medical Systems layoffs, on the record
Every job cut, severance charge and restructuring Varian Medical Systems reported in its annual reports, 2018 to 2020, quoted from the filings. Headcount went from approximately 7,174 to 10,062.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2018 | approximately 7,174 | September 28, 2018 |
| 10-K for 2019 | 10,062 | September 27, 2019 |
Job cuts, severance and restructuring
Our summaryCompany offered an enhanced retirement program to qualifying employees and implemented a workforce reduction under the 2017 Restructuring Plan, mainly in Oncology Systems and Proton Solutions; the plan was completed in the third quarter of fiscal 2018.
Word for word“In the first quarter of fiscal year 2017, the Company offered an enhanced retirement program to its qualifying employees and implemented a workforce reduction (collectively "the 2017 Restructuring Plan"), primarily in its Oncology Systems and Proton Solutions segments, to improve operational performance.” 10-K for 2018
Our summaryCompany reported separation costs for discontinued operations, including restructuring and other expenses.
Word for word“(3) Operating expenses from discontinued operations included separation costs of $34.2 million and $16.9 million during fiscal years 2017 and 2016, respectively.” 10-K for 2018
Our summaryCut costs in the third and fourth quarters of fiscal 2020 with several measures, including a reduction in force affecting about 3% of the workforce, a temporary cut in some employee benefits, and mandatory paid personal leave days.
Word for word“In our third and fourth quarter of fiscal year 2020, we implemented several cost cutting measures designed to preserve liquidity, including a reduction in force that impacted approximately 3% of our work force, a temporary reduction in certain employee benefits, and requiring our employees to take mandatory paid personal leave days during a set week in each of the third quarter and fourth quarters of our fiscal year 2020 and in the first quarter of our fiscal year 2021.” 10-K for 2020
Our summaryCarried out a global workforce reduction in response to COVID-19 and recorded restructuring charges, mainly employee-related expenses.
Word for word“We incurred $18.7 million in restructuring charges, which primarily consisted of employee-related expenses, in fiscal year 2020.” 10-K for 2020
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-09-30 | $5.3 million | $4 million |
| 2017-09-29 | $12.6 million | $10.3 million |
| 2018-09-28 | $0 | $3.9 million |
| 2020-10-02 | $18.7 million | $12 million |
Varian Medical Systems 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 Varian Medical Systems’s annual reports (10-K for 2020, 10-K for 2019, 10-K for 2018) and the financial data it files with the SEC, as of 2020-11-25. 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.