Cricut layoffs, on the record
Every job cut, severance charge and restructuring Cricut reported in its annual reports, 2023 to 2025, quoted from the filings.
Job cuts, severance and restructuring
Our summaryCricut undertook a restructuring plan to improve efficiency and streamline operations, recognizing severance costs settled mainly in the first quarter of 2023.
Word for word“During the year ended December 31, 2023, the Company undertook a restructuring plan to improve efficiency and streamline operations.” 10-K for 2023
Our summaryThe company split its severance costs across research and development, selling and marketing, and general and administrative expense.
Word for word“Of this amount, $ 0.7 million, $ 0.3 million, and $ 0.2 million, were recorded within research and development, selling and marketing, and general and administrative expense, respectively.” 10-K for 2023
Our summaryThe company reported gross savings from the January 2023 restructuring plan in research and development expense.
Word for word“We produced gross savings in research and development of approximately $4.6 million during 2023 as a result of the January 2023 restructuring plan.” 10-K for 2023
Our summaryThe company undertook restructuring plans in 2024 and 2023 to improve efficiency and streamline operations, and recognized severance costs of $0.9 million in 2024.
Word for word“During the years ended December 31, 2024 and 2023, the Company undertook restructuring plans to improve efficiency and streamline operations.” 10-K for 2024
Our summaryThe company recorded 2024 severance costs split across research and development, selling and marketing, and general and administrative expense.
Word for word“During the year ended December 31, 2024, the Company recognized $ 0.9 million of severance costs of which $ 0.4 million, $ 0.4 million and $ 0.1 million, were recorded within research and development, selling and marketing, and general and administrative expense, respectively.” 10-K for 2024
Our summaryThe company recorded 2023 severance costs from its restructuring plans, split across functional expense lines.
Word for word“During the year ended December 31, 2023, $ 1.2 million of severance costs of which $ 0.7 million, $ 0.3 million, and $ 0.2 million, were recorded within research and development, selling and marketing, and general and administrative expense, respectively.” 10-K for 2024
Our summaryThe company reported gross savings from the January 2024 restructuring plan in research and development expense.
Word for word“We produced gross savings in research and development of approximately $3.2 million during 2024 as a result of the January 2024 restructuring plan.” 10-K for 2024
Our summaryThe company reported gross savings from the January 2024 restructuring plan in sales and marketing expense.
Word for word“We produced gross savings in sales and marketing of approximately $2.5 million during 2024 as a result of the January 2024 restructuring plan.” 10-K for 2024
Our summaryThe company reported gross savings from the January 2024 restructuring plan in general and administrative expense.
Word for word“We produced gross savings in general and administrative of approximately $0.6 million during 2024 as a result of the January 2024 restructuring plan.” 10-K for 2024
| Fiscal year ended | Severance costs |
|---|---|
| 2023-12-31 | $1.2 million |
| 2024-12-31 | $900,000 |
Cricut 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 Cricut’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 2026-03-04. 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.