Wesco Aircraft Holdings layoffs, on the record
Every job cut, severance charge and restructuring Wesco Aircraft Holdings reported in its annual reports, 2017 to 2019, quoted from the filings. Headcount went from 2,978 to 3,302.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2017 | 2,978 | September 30, 2017 |
| 10-K for 2018 | 3,069 | September 30, 2018 |
| 10-K for 2019 | 3,302 | September 30, 2019 |
Job cuts, severance and restructuring
Our summaryGlobal Restructuring Plan committed in September 2015 involving elimination of redundant positions and closure and consolidation of facilities; the company materially completed the actions under it as of September 30, 2016.
Word for word“In September 2015, we committed to a Global Restructuring Plan, which involved the immediate elimination of redundant positions and the closure and consolidation of various facilities in an effort to better align our workforce to the growth areas of our business and to streamline our operations to increase efficiency and effectiveness.” 10-K for 2017
Our summarySeverance costs recorded within unallocated corporate costs, tied to higher payroll and personnel costs.
Word for word“partially offset by an increase in payroll and other personnel related costs of $3.4 million including $1.7 million of severance costs.” 10-K for 2017
Our summaryRestructuring liabilities for employee severance and lease termination costs remained on the balance sheet at year end.
Word for word“As of September 30, 2017, our restructuring liabilities were $0.4 million , which was included in the accrued expenses and other current liabilities line of our consolidated balance sheets.” 10-K for 2017
Our summaryRestructured the company's reporting units into three new units (Americas, EMEA and APAC) alongside the fiscal 2017 goodwill impairment test.
Word for word“We also performed our fiscal year 2017 annual goodwill impairment test as of July 1, 2017, concurrent with our restructuring of our reporting units, which indicated no impairment for any of the three new reporting units, Americas, EMEA and APAC.” 10-K for 2018
Wesco Aircraft Holdings 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 Wesco Aircraft Holdings’s annual reports (10-K for 2019, 10-K for 2018, 10-K for 2017) and the financial data it files with the SEC, as of 2019-11-26. 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.