Chipotle layoffs, on the record
Every job cut, severance charge and restructuring Chipotle reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from 116,068 to 130,301.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 116,068 | December 3 1, 2023 |
| 10-K for 2024 | 130,504 | December 31, 2024 |
| 10-K for 2025 | 130,301 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryThe filing reports 2023 expenses for restaurant and corporate level impairment and closure costs, accelerated depreciation and corporate restructuring, which reduced diluted earnings per share.
Word for word“Diluted earnings per share was $44.34, a 38.4% increase from $32.04, which includes a $0.52 after-tax impact from expenses related to restaurant and corporate level impairment and closure costs, accelerated depreciation and corporate restructuring, partially offset by a reduction in contingencies related to certain legal proceedings.” 10-K for 2023
Our summaryThe Compensation, People and Culture Committee approved an Executive Officer Severance Plan providing severance benefits to executive officers upon a qualifying termination.
Word for word“On February 6, 2024, the Compensation, People and Culture Committee of the Company’s Board of Directors (the “Committee”) approved the Chipotle Mexican Grill, Inc. Executive Officer Severance Plan, which was effective immediately (the “Severance Plan”).” 10-K for 2023
Our summaryGeneral and administrative expenses included a restructuring costs line that changed by a negative $6.5 million from 2023 to 2024.
Word for word“Stock-based compensation 5.3 Restructuring costs (6.5) Other 2.2 For the period ended December 31, 2024 $ 697.5.” 10-K for 2024
| Fiscal year ended | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|
| 2018-12-31 | $41.3 million | $22.2 million |
| 2019-12-31 | $12.3 million | $15.8 million |
| 2020-12-31 | $6.4 million | $6.4 million |
Chipotle 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 Chipotle’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 2026-02-04. 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.