EPAM Systems layoffs, on the record
Every job cut, severance charge and restructuring EPAM Systems reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 61,200 to approximately 62,850.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2024 | approximately 61,200 | As of December 31, 2024 |
| 10-K for 2025 | approximately 62,850 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryThe company exited Russia and no longer has employees or operations there.
Word for word“As of December 31, 2023 we no longer have employees or operations in Russia.” 10-K for 2023
Our summaryThe filing mentions a 2024 cost optimization program that includes employee severance and contract termination costs, but the excerpt gives no details of positions cut or amounts.
Word for word“The increase in selling, general and administrative expenses during 2024 compared to 2023 was primarily driven by a $14.1 million increase in personnel-related costs, including a $7.4 million increase in stock-based compensation expense, a $10.3 million increase in professional fee expenses related to our business acquisition efforts and a $4.7 million increase in expenses associated with our humanitarian efforts for Ukraine.” 10-K for 2024
Our summaryPersonnel costs rose in 2025 partly because of higher severance tied to the company's cost optimization programs, which the filing describes as restructuring programs.
Word for word“Personnel-related costs also increased due to impacts from salary increases and promotions for existing professionals, increases in variable compensation expense and severance, which reflects the impact from cost optimization programs.” 10-K for 2025
Our summaryThe company made severance payments in 2024 under its Cost Optimization Program, which reduced operating cash flow that year.
Word for word“Cash provided by operating activities in 2024 was primarily driven by the Company's cash collections from client contracts, which was partially offset by variable compensation payments, severance payments related to the Cost Optimization Program and other working capital outflows.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2023-12-31 | $29 million | $22 million |
| 2024-12-31 | $31.3 million | $36.5 million |
| 2025-12-31 | $47.9 million | $44 million |
EPAM Systems 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 EPAM Systems’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.