Enerpac Tool Group layoffs, on the record
Every job cut, severance charge and restructuring Enerpac Tool Group reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 2,100 to approximately 2,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 2,100 | August 31, 2023 |
| 10-K for 2024 | approximately 2,000 | August 31, 2024 |
Job cuts, severance and restructuring
Our summaryIn June 2022 the company approved a restructuring plan tied to the ASCEND transformation program to drive greater efficiency in global selling, general and administrative resources, mainly severance and employee-related costs.
Word for word“In June 2022, the Company approved a restructuring plan in connection with the initiatives identified as part of the ASCEND transformation program (see Note 3, “ASCEND Transformation Program” in the notes to the consolidated financial statements) to drive greater efficiency and productivity in global selling, general and administrative resources.” 10-K for 2023
Our summaryOn September 23, 2022 the company approved an updated ASCEND restructuring plan, with costs expected to run through the fourth quarter of fiscal 2024.
Word for word“On September 23, 2022, the Company approved an updated restructuring plan.” 10-K for 2023
Our summaryThe company recorded restructuring charges under the ASCEND program, and fiscal 2024 costs are expected to include further restructuring costs.
Word for word“For the year ended August 31, 2023 and 2022 , the Company recorded $ 7.7 million and $ 3.1 million of restructuring charges associated with the ASCEND transformation program.” 10-K for 2023
Our summaryCompany restructuring activity in fiscal 2023 included a benefit from further simplifying the organizational structure, and fiscal 2022 included charges to streamline the organizational structure.
Word for word“Upon assessment of the Company's operating structure by the Company's new President & Chief Executive Officer (hired effective October 2021), the Company recorded a benefit of less than $ 0.1 million and $ 5.2 million of charges for the year ended August 31, 2023, and 2022, respectively, in order to further simplify and streamline the organizational structure.” 10-K for 2023
Our summaryThe company's fiscal 2019 restructuring plan, covering integration and corporate structure efficiencies, ended in the third quarter of fiscal 2022.
Word for word“The total cumulative charges for the 2019 plan, which ended in the third quarter of fiscal 2022, were $ 18.0 million .” 10-K for 2023
Our summaryEnerpac approved a restructuring plan under its ASCEND transformation program to drive efficiency in global selling, general and administrative resources, mainly involving severance and other employee-related costs.
Word for word“In June 2022, the Company approved a restructuring plan in connection with the initiatives identified as part of the ASCEND transformation program to drive greater efficiency and productivity in global selling, general and administrative resources.” 10-K for 2024
Our summaryEnerpac updated the ASCEND restructuring plan to a larger cost range.
Word for word“In September 2022, the Company approved an update to the restructuring plan to a range of $10 to $15 million; these costs were still incorporated into the initial investment value and the range did not change at that time.” 10-K for 2024
Our summaryEnerpac recorded restructuring charges under the ASCEND program during fiscal 2024, fiscal 2023 and fiscal 2022.
Word for word“For the year ended August 31, 2024, 2023 and 2022, the Company recorded $ 7.8 million, $ 7.7 million and $ 3.1 million, respectively, of restructuring charges associated with the ASCEND transformation program.” 10-K for 2024
Our summaryEnerpac recorded restructuring charges under its 2019 restructuring plan, which included workforce reductions and organizational simplification, and the plan ended in fiscal 2022.
Word for word“The Company recorded $ 5.2 million of charges for the year ended August 31, 2022 in order to further simplify and streamline the organizational structure.” 10-K for 2024
Our summaryEnerpac reported that its ongoing restructuring initiatives include workforce reductions, plant consolidations and office closures, and that the ASCEND program concluded in the fourth quarter of fiscal 2024.
Word for word“The Company has undertaken or committed to various restructuring initiatives, including workforce reductions, leadership changes, plant consolidations to reduce manufacturing overhead, satellite office closures, the continued movement of production and product sourcing to low-cost alternatives and the centralization and standardization of certain administrative functions.” 10-K for 2024
Our summaryThe company recorded restructuring costs in the third quarter of fiscal 2025, about three-quarters for personnel actions and the rest for its former headquarters location, to improve SG&A efficiency amid soft market conditions.
Word for word“During the third quarter of fiscal 2025, in light of the soft market conditions and in an effort to continue increasing the efficiency of its selling, general and administrative spend, the Company incurred restructuring costs of $ 5.9 million , of which approximately three-quarters was related to personnel actions and the remainder were charges associated with the Company's former headquarters location.” 10-K for 2025
Our summaryThe company approved a restructuring plan under the ASCEND program to improve efficiency in global selling, general and administrative resources, with costs mostly severance and other employee-related costs.
Word for word“On June 27, 2022, the Company approved a restructuring plan in connection with the initiatives identified as part of the ASCEND transformation program (see Note 3, “ASCEND Transformation Program” ) to drive greater efficiency and productivity in global selling, general and administrative resources.” 10-K for 2025
Our summaryThe ASCEND program ended with total restructuring charges of $18.6 million and none recorded in fiscal 2025.
Word for word“No restructuring charges associated with the ASCEND transformation program were recorded for the year ended August 31, 2025 as the ASCEND program ended at August 31, 2024, with a total restructuring charge of $ 18.6 million.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-08-31 | $14.6 million | $7.5 million |
| 2017-08-31 | $3.2 million | $7.5 million |
| 2018-08-31 | $10.6 million | $10.4 million |
| 2019-08-31 | $4.2 million | — |
| 2020-08-31 | $7.3 million | — |
| 2021-08-31 | $2.4 million | — |
| 2022-08-31 | $8.1 million | — |
| 2023-08-31 | $7.1 million | — |
| 2024-08-31 | $7.4 million | — |
| 2025-08-31 | $5.9 million | — |
Enerpac Tool Group filed 3 restructuring notices (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 Enerpac Tool Group’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 2025-10-17. 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.