Air Products & Chemicals layoffs, on the record
Every job cut, severance charge and restructuring Air Products & Chemicals reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 23,000 to approximately 21,300.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 23,000 | 30 September 2023 |
| 10-K for 2024 | approximately 23,000 | 30 September 2024 |
| 10-K for 2025 | approximately 21,300 | 30 September 2025 |
Job cuts, severance and restructuring
Our summaryRecorded business and asset actions charges in fiscal 2023, including severance and other benefits for position eliminations and restructuring of certain organizations globally.
Word for word“The remaining expense includes $ 27.0 for severance and other benefits payable to approximately 450 employees due to position eliminations and restructuring of certain organizations globally.” 10-K for 2023
Our summaryWrote off assets tied to exited projects, including withdrawal from coal gasification in Indonesia and a permanently suspended project in Ukraine, as part of the business and asset actions.
Word for word“Of the expense, $217.6 resulted from noncash charges to write off assets associated with exited projects that were previously under construction.” 10-K for 2023
Our summaryAccrued severance and other benefits, with the unpaid accrual expected to be substantially paid through fiscal year 2024.
Word for word“The table below summarizes the carrying amount of the accrual for unpaid benefits as of 30 September 2023, which we expect to substantially pay through fiscal year 2024.” 10-K for 2023
Our summaryDivested the small industrial gas business in Russia, recording a noncash business and asset actions charge.
Word for word“As a result, we recorded a noncash business and asset actions charge of $ 73.7 , which included transaction costs and cumulative currency translation losses.” 10-K for 2023
Our summaryGlobal cost reduction plan: expense recognized for severance and other postemployment benefits for employees identified under the plan.
Word for word“During the second quarter of fiscal year 2024, we recognized an expense of $ 57.0 for severance and other postemployment benefits payable to employees identified under a global cost reduction plan.” 10-K for 2024
Our summaryThe global cost reduction plan was originated, resulting in an initial charge for severance and postemployment benefits.
Word for word“We originated this plan during the third quarter of fiscal year 2023, which resulted in an initial charge of $ 27.0 .” 10-K for 2024
Our summaryFiscal 2023 business and asset actions included an expense for severance and other benefits alongside noncash asset write-offs from project exits.
Word for word“Business and asset actions of $244.6 included noncash charges to write off assets related to our exit from certain projects previously under construction as well as an expense for severance and other benefits.” 10-K for 2024
Our summaryPayments made against severance actions were a component of cash used within payables and accrued liabilities.
Word for word“The use of cash of $338.7 within payables and accrued liabilities primarily resulted from a reduction of customer advances for sale of equipment projects as we recognize revenue, payments against severance actions, and payments for incentive compensation under the fiscal year 2023 plan.” 10-K for 2024
Our summaryThe company started a global cost reduction plan that gives severance and other benefits to employees chosen for involuntary separation, with costs since inception covering about 3,600 employees.
Word for word“Since the plan was initiated in 2023, we incurred costs totaling $ 207.7 for approximately 3,600 employees globally.” 10-K for 2025
Our summaryThe company recorded a fiscal 2025 charge for severance and other employee benefits under its global cost reduction program.
Word for word“The remaining charge of $123.7 in fiscal year 2025 related to severance and other employee benefits under a global cost reduction program initiated in June 2023.” 10-K for 2025
Our summaryThe company recorded executive separation costs after the Board appointed a new CEO, including accelerated share-based award vesting and severance and other cash benefits.
Word for word“In the second quarter, $29.7 was recorded for executive separation costs following the Board of Directors’ appointment of a new Chief Executive Officer in February 2025, which included a noncash expense of $22.4 to accelerate vesting of share-based awards and $7.3 in severance and other cash benefits.” 10-K for 2025
| Fiscal year ended | Severance costs | Restructuring charges | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|---|---|
| 2016-09-30 | — | — | $34.5 million | — |
| 2017-09-30 | — | — | $151.4 million | — |
| 2018-09-30 | — | — | $0 | — |
| 2019-09-30 | — | — | $25.5 million | $6.9 million |
| 2020-09-30 | — | $0 | $0 | $13.5 million |
| 2021-09-30 | — | $0 | $0 | — |
| 2022-09-30 | — | $73.7 million | — | — |
| 2023-09-30 | $27 million | $244.6 million | — | $6.8 million |
| 2024-09-30 | $57 million | $57 million | — | $43.6 million |
| 2025-09-30 | $123.7 million | $3.75 billion | — | — |
Air Products & Chemicals filed 1 restructuring notice (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Air Products & Chemicals’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 2025-11-20. 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.