Bakkt layoffs, on the record
Every job cut, severance charge and restructuring Bakkt reported in its annual reports, 2023 to 2025, quoted from the filings.
Job cuts, severance and restructuring
Our summaryLaunched a restructuring plan to simplify and focus on core capabilities.
Word for word“For example, in the fourth quarter of 2022 and first quarter of 2023, we launched a restructuring plan in order to simplify and focus on our core capabilities.” 10-K for 2023
Our summaryRecorded restructuring expenses made up of severance costs under business simplification initiatives.
Word for word“Restructuring expenses of $4.6 million for the year ended December 31, 2023 consist of severance costs as part of our business simplification initiatives to focus on capabilities with strong product market fit and scalability.” 10-K for 2023
Our summaryRecorded restructuring expenses made up of severance costs under business simplification initiatives.
Word for word“Restructuring expenses of $2.3 million for the year ended December 31, 2022 consist of severance costs as part of our business simplification initiatives to focus on capabilities with strong product market fit and scalability.” 10-K for 2023
Our summaryAnnounced a restructuring plan with a reduction in workforce to further focus the business.
Word for word“This restructuring plan included a reduction in workforce, impacting 22 employees that had outstanding RSUs.” 10-K for 2023
Our summaryPaid non-recurring severance payments that were not related to the restructuring actions.
Word for word“as well as $1.8 million of non-recurring severance payments made during the year ended December 31, 2022 that were not related to the restructuring actions.” 10-K for 2023
Our summaryAgreed to pay an executive aggregate severance benefits and accelerate vesting of unvested service-based RSUs.
Word for word“Michael’s past service to the Company, the Company agreed to pay Mr. Michael aggregate severance benefits of approximately $ 1.3 million.” 10-K for 2023
Our summaryAnnounced a reduction in force that terminated 28 employees.
Word for word“Further, on May 2, 2024, we announced a reduction in force resulting in the termination of 28 employees, which may limit our ability to attract and retained qualified and experienced personnel.” 10-K for 2024
Our summaryAnnounced a restructuring plan to further focus the business, which included a reduction in workforce.
Word for word“During the fourth quarter of 2022, the Company announced a restructuring plan to further focus the business.” 10-K for 2024
Our summaryRecorded restructuring expenses from severance costs tied to business simplification and the CEO transition, which increased year over year.
Word for word“Restructuring expenses resulting from severance costs as part of our business simplification initiatives to focus on capabilities with strong product market fit and scalability as well as the CEO transition increased by $3.6 million, or 77.8%, for the year ended December 31, 2024 compared to the year ended December 31, 2023.” 10-K for 2024
Our summaryRecorded share-based compensation for accelerated vesting for employees terminated mainly due to restructuring.
Word for word“During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we recorded $ 4.9 million, $ 2.3 million, and $ 2.0 million, respectively, of share-based compensation expense related to the accelerated vesting for certain employees that were terminated, primarily related to the Company’s restructuring efforts.” 10-K for 2024
Our summaryThe company recorded restructuring expenses for 2025, made up of severance tied to the Co-CEO's August 2025 resignation and a reduction in force carried out in the first quarter of 2025.
Word for word“Restructuring expenses of $5.3 million during the year ended December 31, 2025 consist of severance cost related to the August 2025 resignation of the Co-CEO and a reduction in force executed in the first quarter of 2025.” 10-K for 2025
Our summaryThe company recorded restructuring expenses in 2024 for severance and accelerated vesting of non-cash compensation after terminating a former executive and certain other employees.
Word for word“Restructuring expenses during the year ended December 31, 2024 consisted of severance costs and accelerated vesting of non-cash compensation related to the termination of a former executive and certain other employees.” 10-K for 2025
| Fiscal year ended | Restructuring charges |
|---|---|
| 2022-12-31 | $2.3 million |
| 2023-12-31 | $4.2 million |
| 2024-12-31 | $8.2 million |
| 2025-12-31 | $5.3 million |
Bakkt 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 Bakkt’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 2026-03-19. 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.