Cushman & Wakefield layoffs, on the record
Every job cut, severance charge and restructuring Cushman & Wakefield reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 52,000 to approximately 53,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 52,000 | As of December 31, 2023 |
| 10-K for 2024 | approximately 52,000 | December 31, 2024 |
| 10-K for 2025 | approximately 53,000 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryCost savings initiatives in 2023 included severance and one-time separation costs tied to actions to reduce headcount across select roles, plus property lease rationalizations.
Word for word“Restructuring, impairment and related charges of $38.1 million increased $29.2 million compared to the year ended December 31, 2022 as a result of cost savings initiatives actioned in 2023, including a reduction in headcount across select roles to help optimize our workforce given the current macroeconomic conditions and operating environment, as well as property lease rationalizations.” 10-K for 2023
Our summarySeverance and employment-related costs rose as part of the 2023 restructuring charges.
Word for word“This reflects an increase in severance and employment-related costs of $17.2 million, as well as an increase in impairment charges of $12.0 million.” 10-K for 2023
Our summaryThe company reported restructuring, impairment and related charges for 2024, including severance and one-time employment-related separation costs from actions to reduce headcount, which continued through September 30, 2024.
Word for word“Cost savings initiatives primarily reflects severance and other one-time employment-related separation costs related to actions to reduce headcount across select roles to help optimize our workforce given the challenging macroeconomic conditions and operating environment, as well as property lease rationalizations.” 10-K for 2024
Our summaryIn 2023 the company took cost savings initiatives including a reduction in headcount across select roles, and 2024 severance and employment-related costs decreased by $3.0 million versus 2023.
Word for word“In 2023, the Company actioned certain cost savings initiatives, including a reduction in headcount across select roles to help optimize our workforce given the challenging macroeconomic conditions and operating environment, as well as property lease rationalizations.” 10-K for 2024
Our summaryRestructuring, impairment and related charges fell in 2025, partly because severance costs from earlier cost savings initiatives dropped by about $22.0 million.
Word for word“Restructuring, impairment and related charges of $6.1 million decreased $35.0 million compared to the year ended December 31, 2024, primarily driven by a $15.8 million loss on disposition recognized in 2024 related to the sale of a non-core Services business in the Americas, as well as a decrease in severance costs of approximately $22.0 million associated with previous cost savings initiatives.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|---|
| 2016-12-31 | $29.5 million | — | $36.3 million |
| 2017-12-31 | $28.5 million | — | $19.6 million |
| 2018-12-31 | $900,000 | — | $25.6 million |
| 2020-12-31 | $52.7 million | — | $43.1 million |
| 2021-12-31 | $23.1 million | $0 | $29.6 million |
| 2022-12-31 | $7.3 million | $0 | $5.9 million |
| 2023-12-31 | $24.5 million | $55.6 million | $23.9 million |
| 2024-12-31 | $21.5 million | $28.9 million | $23.2 million |
| 2025-12-31 | — | $0 | — |
Cushman & Wakefield 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 Cushman & Wakefield’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 2026-02-19. 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.