Chubb layoffs, on the record
Every job cut, severance charge and restructuring Chubb reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from 43,000 to approximately 45,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2024 | 43,000 | — |
| 10-K for 2025 | approximately 45,000 | — |
Job cuts, severance and restructuring
Our summaryCigna integration expenses were recorded as a separate expense line in the income statement.
Word for word“Cigna integration expenses 69 48 — Total expenses 40,209 36,612 31,075 Income before income tax 9,526 6,485 9,794 Income tax expense 511 1,239 1,269 Net income $ 9,015 $ 5,246 $ 8,525 Net loss attributable to noncontrolling interests ( 13 ) — — Net income attributable to Chubb $ 9,028 $ 5,246 $ 8,525 Other comprehensive income (loss) Change in: Unrealized appreciation (depreciation) $ 3,448 $ ( 10,578 ) $ ( 2,938 ) Current discount rate on future policy benefits 84 1,480 387 Instrument-specific credit risk on market risk benefits 2 33 27 Cumulative foreign currency translation adjustment ( 13 ) ( 911 ) ( 505 ) Other, including postretirement benefit liability adjustment 157 ( 100 ) 522 Other comprehensive income (loss), before income tax 3,678 ( 10,076 ) ( 2,507 ) Income tax (expense) benefit related to OCI items ( 317 ) 965 366 Other comprehensive income (loss) 3,361 ( 9,111 ) ( 2,141 ) Comprehensive income (loss) 12,376 ( 3,865 ) 6,384 Comprehensive loss attributable to noncontrolling interests ( 28 ) — — Comprehensive income (loss) attributable to Chubb $ 12,404 $ ( 3,865 ) $ 6,384 Earnings per share Basic earnings per share attributable to Chubb $ 21.97 $ 12.50 $ 19.38 Diluted earnings per share attributable to Chubb $ 21.80 $ 12.39 $ 19.24 See accompanying notes to the Consolidated Financial Statements F-8 Table of Contents CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY Chubb Limited and Subsidiaries For the years ended December 31, 2023, 2022, and 2021 As Adjusted (in millions of U.S. dollars) 2023 2022 2021 Common Shares Balance – beginning of year $ 10,346 $ 10,985 $ 11,064 Par value reduction ( 9,759 ) — — Cancellation of treasury shares ( 346 ) ( 639 ) ( 79 ) Balance – end of year 241 10,346 10,985 Common Shares in treasury Balance – beginning of year ( 5,113 ) ( 7,464 ) ( 3,644 ) Common Shares repurchased ( 2,478 ) ( 3,014 ) ( 4,861 ) Cancellation of treasury shares 2,869 4,983 590 Net shares issued under employee share-based compensation plans 322 382 451 Balance – end of year ( 4,400 ) ( 5,113 ) ( 7,464 )” 10-K for 2023
Our summaryChubb recorded integration expenses and severance, which include severance costs from transformation initiatives meant to improve operational efficiency, totaling $79 million in 2025.
Word for word“Integration expenses and severance were $ 79 million, $ 39 million, and $ 69 million for the years ended December 31, 2025, 2024, and 2023, respectively, and include all internal and external costs directly related to the integration activities, as well as severance expenses incurred as part of transformation initiatives to enhance operational efficiency.” 10-K for 2025
Chubb 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 Chubb’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 2026-02-27. 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.