West layoffs, on the record
Every job cut, severance charge and restructuring West reported in its annual reports, 2014 to 2016, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2014 | approximately 9,700 total employees | As of December 31, 2014 |
| 10-K for 2015 | approximately 10,630 | As of December 31, 2015 |
| 10-K for 2016 | approximately 10,720 | As of December 31, 2016 |
Job cuts, severance and restructuring
Our summaryCommunication Services recorded site closure and severance expenses and asset impairment in 2012, and separately reported severance and site closure expenses in 2013.
Word for word“During 2012, Communication Services recorded $6.2 million for site closure and severance expenses and asset impairment.” 10-K for 2014
Our summaryA divestiture reduced the company's employee count from about 35,000 to 10,600.
Word for word“As a result of this transaction, our employee count decreased from approximately 35,000 to 10,600, making us a significantly less labor-intensive company.” 10-K for 2015
Our summaryThe filing reports site closures and severance costs, shown as an adjustment in the Adjusted EBITDA reconciliation for 2015 and 2014.
Word for word“Site closures and severance (c) 3,368 3,530 Non-cash foreign currency loss (gain) (d) 1,920 (3,218 ) Litigation settlement costs (e) 654 750 Covenant Adjusted EBITDA (f) $ 682,108 $ 669,581 Covenant Adjusted EBITDA Margin (g) 29.9 % 30.2 %” 10-K for 2015
Our summaryThe company recorded a restructuring charge for a workforce reduction plan put in place in the fourth quarter as part of strategic and cost savings initiatives.
Word for word“• Operating income and net income were negatively impacted by an $8.4 million restructuring charge due to a workforce reduction plan implemented in the fourth quarter as part of strategic and cost savings initiatives.” 10-K for 2016
Our summaryThe company incurred higher severance costs in 2016 because of a Company-wide restructuring, compared with 2015.
Word for word“Also contributing to the increase in SG&A are $11.1 million of severance costs incurred due to a Company-wide restructuring, compared to $3.2 million of severance in 2015.” 10-K for 2016
West 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 West’s annual reports (10-K for 2016, 10-K for 2015, 10-K for 2014) and the financial data it files with the SEC, as of 2017-02-16. 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.