Clearwater Paper layoffs, on the record
Every job cut, severance charge and restructuring Clearwater Paper reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 3,100 to approximately 1,900.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 3,100 | — |
| 10-K for 2024 | approximately 2,200 | — |
| 10-K for 2025 | approximately 1,900 | — |
Job cuts, severance and restructuring
Our summaryThe filing reports a 2023 net loss in Other operating charges that includes mill closure costs of $0.4 million, which the company describes as a component of the net loss.
Word for word“The components of the net loss include: • expense of $ 0.4 million associated with mill closure costs, • loss of $ 6.1 million associated with the impairment of fixed assets, • expenses of $ 1.6 million related to reorganization and other expenses including consulting fees associated with our efforts to achieve long-term performance improvements, and • expense of $ 0.9 million relating to directors' equity-based compensation which is remeasured each period based upon changes in our stock price.” 10-K for 2023
Our summaryThe filing reports 2021 mill closure costs, including impairment of fixed assets and severance and other related closure costs, within Other operating charges.
Word for word“The components of the net loss include: • expense of $ 50.0 million associated with mill closure, and subsequent sale of land, building and related equipment, including $ 37.2 million associated with the impairment of fixed assets and certain inventory and $ 12.8 million associated with severance and other related closure costs, • expenses of $ 8.4 million related to reorganization and other expenses including consulting fees associated with our efforts to achieve long-term performance improvements, • gain of $ 1.8 million associated with the release of asset retirement obligations attributable to divested assets, and • expense of $ 1.1 million relating to directors' equity-based compensation which is remeasured each period based upon changes in our stock price.” 10-K for 2023
Our summaryThe company made changes to its functional and leadership structure in response to the Tissue Divestiture to reduce operating expenses and adjust cash flows.
Word for word“In response to the Tissue Divestiture, we have made and will continue to make certain changes to our functional and leadership structure to reduce operating expenses and adjust cash flows.” 10-K for 2024
Our summaryThe company expects to pursue cost savings in 2025 and expects to record severance costs over the next 12 months in connection with those activities.
Word for word“We are targeting $ 30 million to $ 40 million in cost savings in 2025.” 10-K for 2024
Our summaryThe company announced a cost reduction plan in 2025 to cut its cost structure across operations and administrative expenses after selling its tissue business, and recorded severance expense for it.
Word for word“In connection with these activities, we incurred severance expense of $ 6.6 million associated with this plan, which was recorded in "Other operating charges, net" in the Consolidated Statement of Operations.” 10-K for 2025
Our summaryThe company recorded a total expense for its cost reduction plan in 2025, which included severance and other items.
Word for word“• expense of $ 10.4 million associated with our cost reduction plan (including $ 6.6 million of severance cost and other items);” 10-K for 2025
| Fiscal year ended | Severance costs | Cash paid for restructuring |
|---|---|---|
| 2021-12-31 | $12.8 million | — |
| 2025-12-31 | $6.6 million | $5 million |
Clearwater Paper 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 Clearwater Paper’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 2026-02-18. 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.