Baldwin Insurance Group layoffs, on the record
Every job cut, severance charge and restructuring Baldwin Insurance Group reported in its annual reports, 2023 to 2025, quoted from the filings.
Job cuts, severance and restructuring
Our summarySeverance expense was recorded related to the retirement of two executive officers and Colleague terminations, cited as a $17.3 million increase within commissions, employee compensation and benefits expense.
Word for word“Other increases to commissions, employee compensation and benefits expense include severance of $17.3 million related to the retirement of two of our executive officers and Colleague terminations, and share-based compensation expense of $8.8 million.” 10-K for 2023
Our summaryCorporate and Other recorded higher severance expense tied to the retirement of two executive officers and Colleague terminations.
Word for word“Corporate and Other commissions, employee compensation and benefits decreased from higher intercompany commissions expense elimination of $24.9 million, which was offset by higher severance expense of $13.0 million related to the retirement of two of our executive officers and Colleague terminations, and higher advisor commissions expense of $13.1 million.” 10-K for 2023
Our summaryAccrued expenses increased in part due to accrued bonus and severance expense.
Word for word“Accrued expenses and other current liabilities increased $27.2 million as a result of higher accrued compensation and benefits of $8.8 million and accrued expenses of $10.2 million related to bonus and severance expense.” 10-K for 2023
Our summarySeverance was reported as a non-GAAP adjustment to Adjusted EBITDA for 2023 and 2022.
Word for word“Severance 18,514 1,255 Depreciation expense 5,698 4,620 (Gain) loss on interest rate caps 1,670 (26,220) Income tax provision 1,285 715 Other (1) 28,834 25,774 Adjusted EBITDA $ 250,204 $ 196,490 Adjusted EBITDA Margin 21 % 20 %” 10-K for 2023
Our summaryThe company reported a decrease in severance expense relating primarily to the retirement of two executive officers at the end of 2023.
Word for word“and a decrease in severance expense of $12.6 million relating primarily to the retirement of two of our executive officers at the end of 2023.” 10-K for 2024
Our summaryThe company reported severance expense in its adjusted EBITDA reconciliation for 2024 and 2023.
Word for word“Severance 5,756 18,514 Change in fair value of contingent consideration (4,949) 61,083 Loss on interest rate caps 244 1,670 Other (2) 18,682 28,834 Adjusted EBITDA $ 312,485 $ 250,204 Net loss margin (3) % (13) % Adjusted EBITDA margin 22.5 % 20.5 %” 10-K for 2024
Our summaryThe company recorded transformation costs tied to its $3B/30 Catalyst Program, which aims to speed up automation, process optimization and AI use across its workforce.
Word for word“Transformation costs (1) 7,003 — Severance 6,790 5,756 Depreciation expense 6,514 6,194 Loss on extinguishment and modification of debt 6,226 15,113 Change in fair value of contingent consideration 5,594 (4,949) Income and other taxes (2) 4,255 7,184 Colleague earnout incentives (1,779) 41,917 Impairment of right-of-use assets 1,275 — Gain on divestitures (290) (38,953) Loss on interest rate caps 18 244 Other (3) 21,762 18,682 Adjusted EBITDA $ 341,472 $ 312,485 Net loss margin (4) % (3) % Adjusted EBITDA margin 22.7 % 22.5 % __________ (1) Transformation costs represent certain non-recurring colleague compensation and technology-related expenses related to our $3B/30 Catalyst Program, which is designed to accelerate the infusion of automation, business process optimization and artificial intelligence to transform and elevate our workforce and unlock new avenues for growth.” 10-K for 2025
Baldwin Insurance Group 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 Baldwin Insurance Group’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 2026-02-26. 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.