W R Grace layoffs, on the record
Every job cut, severance charge and restructuring W R Grace reported in its annual reports, 2018 to 2020, quoted from the filings. Headcount went from approximately 3,900 to approximately 4,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2018 | approximately 3,900 | December 31, 2018 |
| 10-K for 2019 | approximately 4,000 | As of December 31, 2019 |
| 10-K for 2020 | approximately 4,000 | December 31, 2020 |
Job cuts, severance and restructuring
Our summaryClosed two smaller manufacturing plants and moved their activities to larger plants, recording restructuring expenses in 2018.
Word for word“During 2018 , we incurred $14.0 million of restructuring expenses primarily related to the closure of two smaller manufacturing plants, the activities from which have been moved to larger, more cost-effective plants as part of our strategy to capture synergies from our recent Catalysts Technologies acquisitions.” 10-K for 2018
Our summaryIncurred employee severance and accelerated stock compensation costs related to employee separations within repositioning expenses in 2018.
Word for word“Expenses incurred in 2018 primarily include $13.7 million of third-party costs related to a multi-year program to transform Grace’s manufacturing and F-79 Table of Contents business processes to extend its competitive advantages and improve its cost position, $11.7 million of severance and stock compensation costs related to employee separations, and write-offs of $8.5 million of previously capitalized plant engineering costs as a result of terminating an expansion project no longer necessary due to the 2018 polyolefin catalysts acquisition (see Note 20 to the Consolidated Financial Statements).” 10-K for 2018
Our summaryRan workforce reduction programs in manufacturing, supply chain, finance and IT functions.
Word for word“Restructuring expenses of $11.5 million in 2017 primarily related to workforce reduction programs in our manufacturing, supply chain, finance and IT functions.” 10-K for 2018
Our summaryCarried out workforce reductions and exited non-strategic product lines in Materials Technologies.
Word for word“Restructuring expenses of $24.3 million in 2016 related to workforce reductions and the exit of certain non-strategic product lines in Materials Technologies.” 10-K for 2018
Our summaryExpects substantially all restructuring program costs to be paid, with severance-related payments continuing; restructuring liability stood at year end 2018.
Word for word“Substantially all costs related to the restructuring programs are expected to be paid by December 31, 2021, but could be paid earlier subject to negotiations around certain plant exit costs.” 10-K for 2018
Our summaryThe filing lists a severance and stock compensation cost line tied to employee separations in 2019, shown within the segment and corporate cost data.
Word for word“0001045309 gra:SeveranceandstockcompensationcostsrelatedtoemployeeseparationsMember 2019-01-01 2019-12-31 0001045309 us-gaap:CorporateNonSegmentMember 2017-01-01 2017-12-31 0001045309 gra:GraceCatalystsTechnologiesMember 2017-01-01 2017-12-31” 10-K for 2019
| Fiscal year ended | Severance costs | Restructuring charges | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|---|---|
| 2016-12-31 | $17.8 million | $24.3 million | — | $16 million |
| 2017-12-31 | $11.4 million | $11.5 million | — | $14.4 million |
| 2018-12-31 | $10.1 million | $14 million | $10.1 million | $6.1 million |
| 2019-12-31 | $2.6 million | $2.6 million | $2.6 million | $10.2 million |
| 2020-12-31 | — | $1.9 million | $3.2 million | $3.1 million |
W R Grace 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 W R Grace’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 2021-02-26. 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.