Crane NXT layoffs, on the record
Every job cut, severance charge and restructuring Crane NXT reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 4,000 to approximately 4,800.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 4,000 | December 31, 2023 |
| 10-K for 2024 | approximately 4,500 | December 31, 2024 |
| 10-K for 2025 | approximately 4,800 | At December 31, 2025 |
Job cuts, severance and restructuring
Our summaryCrane NXT recorded net restructuring charges under its 2022 restructuring program in 2023 and 2022. The filing describes restructuring activities as including workforce reductions and facility consolidations, but does not state how many positions were affected.
Word for word“(a) Selling, general and administrative expense includes net restructuring charges of $0.5 million in 2023, $6.2 million in 2022 and net restructuring gains of $0.9 million in 2021.” 10-K for 2023
Our summaryInitiated workforce reductions in the Crane Payment Innovations segment in response to challenging industry conditions, with severance charges booked in 2024.
Word for word“In the first and fourth quarters of 2024, in response to challenging industry conditions, we initiated workforce reductions in CPI, incurring $ 10.1 million of cumulative severance charges, net through December 31, 2024.” 10-K for 2024
Our summaryInitiated workforce reductions in the Crane Payment Innovations segment in response to economic uncertainty; the program was substantially completed in 2024.
Word for word“In the fourth quarter of 2022, in response to economic uncertainty, we initiated workforce reductions in CPI, incurring $ 0.5 million and $ 6.2 million of severance charges and other costs for the years ended December 31, 2023, and 2022, respectively.” 10-K for 2024
Our summaryThe company recorded restructuring expense in the Security and Authentication Technologies segment, mostly severance, tied to integrating the De La Rue and OpSec businesses.
Word for word“We recorded $12.1 million of restructuring expense in the SAT segment, predominantly related to severance charges, associated with the integration of the DLR and OpSec businesses.” 10-K for 2025
Our summaryThe company recorded restructuring expense in the Crane Payment Innovations segment, mostly severance, and said it may take more actions.
Word for word“We recorded $4.7 million of restructuring expense in the CPI segment, predominantly related to severance charges.” 10-K for 2025
Our summaryThe company said total costs of the SAT integration restructuring program are expected to be in a set range, with remaining actions continuing into 2026.
Word for word“Total program costs are expected to be in the range of $15 million to $17 million.” 10-K for 2025
| Fiscal year ended | Severance costs | Restructuring charges |
|---|---|---|
| 2016-12-31 | — | $0 |
| 2017-12-31 | $24.1 million | $13 million |
| 2018-12-31 | $7.8 million | $7.2 million |
| 2019-12-31 | $12.5 million | $17.5 million |
| 2020-12-31 | $29.2 million | $32.3 million |
| 2021-12-31 | −$1.4 million | −$3.7 million |
| 2022-12-31 | $12.7 million | $6.2 million |
| 2023-12-31 | — | $500,000 |
| 2024-12-31 | — | $10.1 million |
| 2025-12-31 | $14.8 million | $16.8 million |
Crane NXT 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 Crane NXT’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 2026-02-26. 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.