Advanced Energy Industries layoffs, on the record
Every job cut, severance charge and restructuring Advanced Energy Industries reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 10,000 to approximately 13,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 10,000 | December 31, 2023 |
| 10-K for 2024 | approximately 10,000 | December 31, 2024 |
| 10-K for 2025 | approximately 13,000 | — |
Job cuts, severance and restructuring
Our summaryApproved a 2023 Plan to optimize and consolidate manufacturing and functional support groups, including a general reduction-in-force to align expenses to revenue levels.
Word for word“In 2023, we approved a plan intended to optimize and consolidate our manufacturing operations and functional support groups as well as a general reduction-in-force to align to our expenses to revenue levels (the “2023 Plan”).” 10-K for 2023
Our summaryRecorded severance and related charges under the 2023 Plan, with a related cumulative cost figure through December 31, 2023.
Word for word“Charges related to our restructuring plans are as follows: Years Ended December 31, 2023 2022 2021 Severance and related charges $ 25,134 $ 6,469 $ 3,467 Facility relocation and closure charges — 345 1,285 Total restructuring charges $ 25,134 $ 6,814 $ 4,752 75 Table of Contents” 10-K for 2023
Our summaryRecorded a $1.4 million impairment on operating lease right-of-use assets in connection with vacating facilities.
Word for word“In connection with vacating facilities, we remeasured the operating lease right-of-use assets at fair value using Level 2 measurements and recorded a $ 1.4 million impairment charge.” 10-K for 2023
Our summaryContinued the 2022 Plan, which is expected to be substantially completed by the end of 2024.
Word for word“We anticipate the 2022 Plan will be substantially completed by the end of 2024.” 10-K for 2023
Our summaryClosed the Shenzhen, China facility under the 2018 Plan, which is now complete, following severance costs for the facility transition and exit.
Word for word“This plan is complete with the closure of our Shenzhen facility in February 2023.” 10-K for 2023
Our summaryApproved a 2024 Plan of manufacturing consolidation, including closing the Zhongshan, China manufacturing facility, with employment-related charges and facility exit costs.
Word for word“In connection with the 2024 Plan, we recorded a $29.6 million charge primarily associated with expected employment-related charges and facility exit costs.” 10-K for 2024
Our summaryRecorded restructuring for the 2024 Plan covering one-time severance, benefits, payroll taxes and related costs, and expected to be substantially completed by the end of the second quarter of 2025.
Word for word“In connection with the 2024 Plan, we recorded a $ 29.6 million charge primarily associated with expected employment-related charges for, among other things, one-time cash payments for severance, benefits expenses, payroll taxes, and other ancillary costs.” 10-K for 2024
Our summaryReduced the operating lease right-of-use asset and operating lease liability tied to the expected early termination of the Zhongshan facility lease.
Word for word“In connection with the closure of our Zhongshan, China manufacturing facility under the 2024 Plan (see Note 12. Restructuring, Asset Impairments, and Other Charges ), we expect to terminate the facility's lease agreement before its expiration.” 10-K for 2024
Our summaryCarried out a general workforce reduction to align to revenue levels, with restructuring actions expected to be largely completed in 2026.
Word for word“The restructuring actions should largely be completed in 2026 and are expected to enable a more efficient and cost-effective operating structure.” 10-K for 2024
Our summaryApproved a 2023 Plan to optimize and consolidate manufacturing and functional support groups, including a general reduction-in-force to align expenses to revenue levels.
Word for word“In 2023, we approved a plan intended to optimize and further consolidate our manufacturing operations and functional support groups as well as a general reduction-in-force to align our expenses to revenue levels (the "2023 Plan").” 10-K for 2024
Our summaryThe company approved further manufacturing consolidation steps in 2024, including closing its Zhongshan, China manufacturing facility.
Word for word“In 2024, we approved further manufacturing consolidation initiatives, including the closure of our Zhongshan, China manufacturing facility (the “2024 Plan”).” 10-K for 2025
Our summaryThe company approved actions in the second quarter of 2025 to consolidate its research and development, sales, and administrative functions as part of its manufacturing and footprint consolidation, with completion expected in 2027.
Word for word“During the second quarter of 2025, we approved actions related to consolidating our research and development, sales, and administrative functions in connection with our manufacturing and footprint consolidation.” 10-K for 2025
Our summaryRestructuring, asset impairment and other charges fell in 2025 compared with 2024, mainly because of the timing of restructuring plan decisions.
Word for word“Restructuring, asset impairment and other charges decreased $17.8 million to $12.5 million, as compared to $30.3 million in the prior year, primarily driven by the timing of our restructuring plan decisions.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-12-31 | $0 | — |
| 2017-12-31 | $0 | — |
| 2018-12-31 | $4.2 million | — |
| 2019-12-31 | $5 million | $6.7 million |
| 2020-12-31 | $13.2 million | $4.7 million |
| 2021-12-31 | $4.8 million | $6.1 million |
| 2022-12-31 | $6.8 million | $8.8 million |
| 2023-12-31 | $25.1 million | $15 million |
| 2024-12-31 | $28.1 million | $15.9 million |
| 2025-12-31 | $6.3 million | $25 million |
Advanced Energy Industries 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 Advanced Energy Industries’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-13. 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.