Cardinal Health layoffs, on the record
Every job cut, severance charge and restructuring Cardinal Health reported in its annual reports, 2023 to 2026, quoted from the filings. Headcount went from approximately 48,000 to approximately 63,900.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 48,000 | As of June 30, 2023 |
| 10-K for 2024 | approximately 48,900 | June 30, 2024 |
| 10-K for 2025 | approximately 57,700 | As of June 30, 2025 |
| 10-K for 2026 | approximately 63,900 | As of June 30, 2026 |
Job cuts, severance and restructuring
Our summaryThe company recorded restructuring and employee severance costs in fiscal 2023 and 2022, mainly for enterprise-wide cost-savings measures and the Cordis divestiture, and in 2023 also for projects arising from strategy and operations reviews.
Word for word“Restructuring and employee severance costs during fiscal 2023 and 2022 were primarily related to the implementation of certain enterprise-wide cost-savings measures and the divestiture of the Cordis business.” 10-K for 2023
Our summaryThe company reported that its employee-related restructuring costs are mainly termination benefits for employees who were involuntarily terminated, plus duplicate payroll and retention bonuses.
Word for word“Employee-related costs primarily consist of termination benefits provided to employees who have been involuntarily terminated, duplicate payroll costs and retention bonuses incurred during transition periods.” 10-K for 2023
Our summaryIn fiscal 2022 the company also reduced its overall office space, which added facility exit costs to restructuring.
Word for word“During fiscal 2022, restructuring costs also included facility exit costs related to decreasing our overall office space.” 10-K for 2023
Our summaryThe company recorded higher restructuring and employee severance costs in fiscal 2024, mainly estimated severance from enterprise-wide cost-savings measures and costs from strategy and portfolio reviews.
Word for word“The increase in fiscal 2024 restructuring costs are primarily due to estimated severance costs related to these cost-savings measures and costs related to certain projects resulting from the reviews of our strategy, portfolio, capital-allocation framework and operations.” 10-K for 2024
Our summaryThe company recorded restructuring and employee severance costs tied to rationalizing manufacturing operations and enterprise-wide cost-savings measures in fiscal 2025 and 2024.
Word for word“Restructuring and employee severance costs in fiscal 2025 and 2024 were primarily related to certain initiatives to rationalize our manufacturing operations and the implementation of certain enterprise-wide cost-savings measures.” 10-K for 2025
Our summaryThe company recorded restructuring and employee severance costs in fiscal 2026 and 2025, mainly for initiatives to streamline manufacturing operations and cut costs in its GMPD segment.
Word for word“Restructuring and employee severance costs in fiscal 2026 and 2025 primarily resulted from certain initiatives to rationalize our manufacturing operations and other cost-savings initiatives within our GMPD segment.” 10-K for 2026
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2016-06-30 | $15 million | $25 million | $25 million |
| 2017-06-30 | $51 million | $56 million | $19 million |
| 2018-06-30 | $34 million | $176 million | $163 million |
| 2019-06-30 | $95 million | $125 million | $48 million |
| 2020-06-30 | $66 million | $122 million | $85 million |
| 2021-06-30 | $53 million | $114 million | $92 million |
| 2022-06-30 | $35 million | $101 million | $72 million |
| 2023-06-30 | $39 million | $95 million | $63 million |
| 2024-06-30 | $95 million | $175 million | $36 million |
| 2025-06-30 | $61 million | $88 million | $58 million |
Cardinal Health filed 3 restructuring notices (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 Cardinal Health’s annual reports (10-K for 2026, 10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-08-11. 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.