Carrier Global layoffs, on the record
Every job cut, severance charge and restructuring Carrier Global reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 53,000 to approximately 47,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 53,000 | December 31, 2023 |
| 10-K for 2024 | approximately 48,000 | December 31, 2024 |
| 10-K for 2025 | approximately 47,000 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryCarrier recorded net pre-tax restructuring costs of $97 million in 2023 for new and ongoing restructuring actions, including workforce reductions and facility consolidations.
Word for word“The Company recorded net pre-tax restructuring costs for new and ongoing restructuring actions as follows: (In millions) 2023 2022 2021 HVAC $ 44 $ 8 $ 33 Refrigeration 21 10 25 Fire & Security 22 11 26 Total Segment 87 29 84 General corporate expenses 10 2 5 Total restructuring costs $ 97 $ 31 $ 89 Cost of sales $ 18 $ 9 $ 28 Selling, general and administrative 79 22 60 Other income (expense), net — — 1 Total restructuring costs $ 97 $ 31 $ 89 The following table summarizes changes in the restructuring reserve, included in Accrued liabilities on the accompanying Consolidated Balance Sheet: (In millions) 2023 2022 Balance as of January 1, $ 24 $ 54 Net pre-tax restructuring costs 97 31 Utilization, foreign exchange and other ( 58 ) ( 61 ) Reclassified to held for sale (1) ( 8 ) — Balance as of December 31, $ 55 $ 24 (1) See Note 20 - Divestitures for additional information.” 10-K for 2023
Our summaryCarrier had $55 million accrued at year end for announced restructuring initiatives, primarily severance across its segments, and set up reserves for a planned portfolio transformation.
Word for word“As of December 31, 2023, the Company had $ 55 million accrued for costs associated with its announced restructuring initiatives.” 10-K for 2023
Our summaryCarrier's restructuring actions may include workforce reductions, and the company said it may adjust employment levels and optimize its footprint.
Word for word“In order to operate more efficiently and cost effectively, we have, and we may from time to time, adjust employment levels, optimize our footprint and/or implement other restructuring activities.” 10-K for 2023
Our summaryCarrier recorded net pre-tax restructuring costs for new and ongoing restructuring actions, totaling $108 million in 2024, with the actions including workforce reductions and facility consolidation.
Word for word“The Company recorded net pre-tax restructuring costs for new and ongoing restructuring actions as follows: (In millions) 2024 2023 2022 HVAC $ 87 $ 44 $ 8 Refrigeration 8 21 10 Total Segment 95 65 18 General corporate expenses 13 10 2 Total restructuring costs (1) $ 108 $ 75 $ 20 Cost of sales $ 42 $ 13 $ 6 Selling, general and administrative 66 62 14 Total restructuring costs (1) $ 108 $ 75 $ 20 (1) 2024 restructuring costs include period-related charges.” 10-K for 2024
Our summaryCarrier held a restructuring reserve, mainly for severance under cost reduction efforts, of $69 million as of year-end 2024, and reserves were established for its planned portfolio transformation.
Word for word“As of December 31, 2024, the Company had $ 69 million accrued for costs associated with its announced restructuring initiatives.” 10-K for 2024
Our summaryCarrier's HVAC segment operating profit change included a 2% restructuring impact on the year-over-year change.
Word for word“Operating profit Organic / Operational 23 % Acquisitions and divestitures, net 3 % Amortization of acquired intangibles (24) % Restructuring (2) % Other 1 % Total % change 1 %” 10-K for 2024
Our summaryCarrier had $102 million accrued for announced restructuring initiatives, mainly severance, across all of its segments.
Word for word“As of December 31, 2025, the Company had $ 102 million accrued for costs associated with its announced restructuring initiatives.” 10-K for 2025
Our summaryThe accrued restructuring balance relates to cost reduction efforts, mostly severance, in every segment.
Word for word“The balance relates to cost reduction efforts, primarily severance, across each of the Company's segments.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2018-12-31 | $80 million | — |
| 2019-12-31 | $126 million | — |
| 2020-12-31 | $49 million | $55 million |
| 2021-12-31 | $89 million | — |
| 2022-12-31 | $20 million | — |
| 2023-12-31 | $75 million | — |
| 2024-12-31 | $108 million | — |
| 2025-12-31 | $178 million | — |
Carrier Global 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 Carrier Global’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 2026-02-05. 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.