Weber layoffs, on the record
Every job cut, severance charge and restructuring Weber reported in its annual reports, 2021 to 2022, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2021 | approximately 2,534 | As of September 30, 2021 |
| 10-K for 2022 | approximately 2,564 full-time employees | As of September 30, 2022 |
Job cuts, severance and restructuring
Our summaryThe Board approved a restructuring plan that included a workforce reduction of non-manufacturing and distribution staff, termination of certain senior executives, termination of lease and contract obligations, and disposal of certain assets.
Word for word“On August 12, 2022, as part of our cost-saving plan to preserve liquidity, expand gross margins and reduce selling, general and administrative costs, the Board approved a restructuring plan, which included a workforce reduction of our non-manufacturing and distribution headcount, including the termination of certain senior executives, the termination of certain lease and other contractual obligations and the disposal of certain other assets.” 10-K for 2022
Our summaryThe company recorded restructuring costs for fiscal 2022 from the Board-approved cost-saving plan.
Word for word“The Company incurred restructuring costs of $22.4 million for the fiscal year ended September 30, 2022 resulting from a cost-saving plan that was approved by the Board to preserve liquidity, expand gross margins and reduce selling, general and administrative costs.” 10-K for 2022
Our summaryOf the restructuring charges, part was for severance and other termination-related benefits, with the rest for contract termination and asset disposals.
Word for word“Of these total charges, $12.8 million relates to severance and other termination-related benefits, $5.2 million relates to contract termination costs and $4.4 million relates to certain asset disposals.” 10-K for 2022
| Fiscal year ended | Restructuring charges |
|---|---|
| 2020-09-30 | $0 |
| 2021-09-30 | $0 |
| 2022-09-30 | $22.4 million |
Weber 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 Weber’s annual reports (10-K for 2022, 10-K for 2021) and the financial data it files with the SEC, as of 2022-12-14. 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.