Vereit layoffs, on the record
Every job cut, severance charge and restructuring Vereit reported in its annual reports, 2018 to 2020, quoted from the filings.
Job cuts, severance and restructuring
Our summaryThe company recorded restructuring expenses in 2019 for reorganizing its business and ending services it provided under a services agreement with the Cole Purchaser. No restructuring expenses were recorded in 2020.
Word for word“During the year ended December 31, 2019, the Company recorded $10.5 million of restructuring expenses related to the reorganization of the business and cessation of services performed pursuant to the terms of a services agreement (the “Services Agreement”) with CCA Acquisition, LLC (the “Cole Purchaser”).” 10-K for 2020
| Fiscal year ended | Restructuring charges |
|---|---|
| 2017-12-31 | $0 |
| 2018-12-31 | $0 |
| 2019-12-31 | $10.5 million |
| 2020-12-31 | $0 |
Vereit 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 Vereit’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 2021-02-24. 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.