Vista Outdoor layoffs, on the record
Every job cut, severance charge and restructuring Vista Outdoor reported in its annual reports, 2022 to 2024, quoted from the filings. Headcount went from approximately 6,900 to approximately 6,400.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | approximately 6,900 | — |
| 10-K for 2023 | approximately 7,000 | — |
| 10-K for 2024 | approximately 6,400 | — |
Job cuts, severance and restructuring
Our summaryFiscal year 2020 business restructuring costs were reported, with restructuring charges of $9,210 and restructuring costs of $1,520 in that year.
Word for word“Reconciling items in fiscal year 2020 include non-cash goodwill and intangible impairment charges of $ 121,329 and $ 34,259 , respectively, related to the historical outdoor products segment, $ 9,429 of held for sale impairment charges related to the historical Sporting Products segment, restructuring charges of $ 9,210 , contingent consideration expenses of $ 1,685 , restructuring costs of $ 1,520 , merger and acquisition costs of $ 644 , and loss on the sale of our Firearms business of $ 433 .” 10-K for 2022
Our summaryThe company reported a reduction of fiscal year 2020 restructuring expenses as a driver of higher Corporate and Other EBIT in fiscal year 2021.
Word for word“The increase in EBIT was primarily driven by fiscal year 2020 goodwill and intangible impairment expenses of $155,588, pretax gain on divestiture of $18,467 in fiscal year 2021, fiscal year 2020 held for sale asset impairment of $9,429 in our Firearms business, and a reduction of fiscal year 2020 restructuring expenses.” 10-K for 2022
Our summaryIn the fourth quarter of fiscal 2023 the company announced a restructuring plan earnings improvement program covering severance and asset impairments, office closures and headcount reductions across its brands and corporate teams.
Word for word“In the fourth quarter of fiscal year 2023, we announced a restructuring plan earnings improvement program, which includes severance and asset impairments related to product line reassessments, office closures, and headcount reductions across our brands and corporate teams.” 10-K for 2023
Our summaryEmployee costs including severance and benefits were recorded for a reduction in workforce across the brands and corporate teams, with employee severance and related expenses of 5,225 recorded.
Word for word“Employee costs including severance payments and benefits were recorded for the reduction in workforce across our brands and corporate teams.” 10-K for 2023
Our summaryRestructuring charges also included asset impairments of other assets, right-of-use assets and technology assets tied to product line reassessments and the restructuring.
Word for word“Other asset impairments related to non-refundable deposits on contracts and capitalized costs on projects abandoned due to product line reassessments.” 10-K for 2023
Our summaryThe company started the GEAR Up transformation program in fiscal 2024 and expects pre-tax restructuring charges of about $40,000 to $50,000 through fiscal 2027.
Word for word“For GEAR Up, we are estimating pre-tax restructuring charges of approximately $ 40,000 to $ 50,000 over the duration of the plan.” 10-K for 2024
Our summaryThe company recorded pre-tax restructuring costs under GEAR Up during fiscal 2024.
Word for word“During fiscal year 2024, we incurred $ 8,279 , of pre-tax restructuring costs in connection with GEAR Up, which are recorded in Selling, general, and administrative expense in the consolidated statements of comprehensive income (loss).” 10-K for 2024
Our summaryThe company announced a cost reduction and earnings improvement program and recorded restructuring charges for fiscal 2024 and 2023; it was substantially completed by March 31, 2024.
Word for word“We recorded $ 5,604 and $ 15,668 of pre-tax restructuring charges for the fiscal years 2024 and 2023, respectively.” 10-K for 2024
| Fiscal year ended | Restructuring charges |
|---|---|
| 2018-03-31 | $18 million |
| 2020-03-31 | $9.2 million |
| 2021-03-31 | $9.2 million |
Vista Outdoor 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 Vista Outdoor’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 2024-05-29. 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.