Dayforce layoffs, on the record
Every job cut, severance charge and restructuring Dayforce reported in its annual reports, 2022 to 2024, quoted from the filings. Headcount went from 8,526 to more than 9,600.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | 8,526 | December 31, 2022 |
| 10-K for 2023 | 9,084 | December 31, 2023 |
| 10-K for 2024 | more than 9,600 | December 31, 2024 |
Job cuts, severance and restructuring
Our summaryCompany incurred severance and restructuring costs tied to re-balancing its global footprint after integrating its APJ acquisitions, recorded within cost of recurring revenue.
Word for word“During the twelve months ended December 31, 2022, we incurred severance charges in conjunction with the re-balancing of our workforce across our global footprint in the amount of $21.0 million within cost of recurring revenue.” 10-K for 2022
Our summaryCompany reported total severance charges for the year, which rose from the prior year.
Word for word“Severance charges (b) 33.7 7.4 Restructuring consulting fees (c) 7.7 16.7 Other non-recurring items (d) 5.7 (11.0 ) Adjusted EBITDA $ 250.4 $ 162.5 Net profit margin (e) (5.9 )% (7.4 )% Adjusted EBITDA margin 20.1 % 15.9 %” 10-K for 2022
Our summaryCompany recorded severance and restructuring costs tied to the APJ acquisition integration, cited as a driver of higher product development and management expense.
Word for word“The increase reflects additional personnel costs, including share-based compensation and severance.” 10-K for 2022
Our summaryThe company re-balanced resources across its global footprint, which led to severance expense that fell in 2023 compared with 2022.
Word for word“The increase in Cloud recurring gross margin was primarily due to the increase in float revenue and reduction in severance expense associated with the re-balancing of resources across our global footprint in 2022.” 10-K for 2023
Our summaryThe company expects to finish a headcount reduction by March 31, 2025, and to record restructuring charges in the first quarter of 2025 for severance, benefits, and share-based compensation.
Word for word“As a result, we expect to incur non-recurring restructuring charges in the first quarter of 2025 of approximately $ 24 million to $ 29 million including severance payments, employee benefits and related costs, and non-cash charges for share-based compensation.” 10-K for 2024
Our summaryThe company excluded restructuring expenses from its adjusted operating profit measure for the year.
Word for word“The adjustments to operating profit consist of $19.8 million of restructuring expenses, $9.0 million related to the impact of the fair value adjustment for the DataFuzion contingent consideration, and $1.0 million of fees associated with initiating the receivables securitization program.” 10-K for 2024
Our summaryThe company excluded restructuring expenses from its adjusted operating profit measure for the earlier comparison period.
Word for word“The adjustments to operating profit consist of $4.7 million of restructuring expenses, $4.3 million related to the impact of the fair value adjustment for the DataFuzion contingent consideration, and $0.1 million related to the net impact of the abandonment of certain leased facilities.” 10-K for 2024
Dayforce 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 Dayforce’s annual reports (10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2025-02-28. 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.