First Advantage layoffs, on the record
Every job cut, severance charge and restructuring First Advantage reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 5,000 to over 9,500.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 5,000 | December 31, 2023 |
| 10-K for 2024 | approximately 10,000 | December 31, 2024 |
| 10-K for 2025 | over 9,500 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryPost-combination restructuring costs from the Sterling acquisition were recognized as product and technology expense.
Word for word“$10.8 million of Sterling expenses recognized after the Sterling acquisition, of which approximately $2.1 million related to increases in cash compensation expense due to the conversion of Sterling equity awards to cash awards as part of the transaction and $1.8 million related to post-combination restructuring costs; ” 10-K for 2024
Our summaryPost-combination restructuring costs from the Sterling acquisition were recognized as selling, general, and administrative expense.
Word for word“$26.4 million of Sterling expenses recognized after the Sterling acquisition, of which $8.8 million relates to post-combination restructuring costs • a $11.1 million increase in Legacy First Advantage share-based compensation expense primarily as a result of a modification to the vesting terms of outstanding unvested and unearned performance-based equity awards in May 2023 and incremental awards granted and modifications made to the equity award agreements for the Company's former Chief Financial Officer and former President, Americas, as part of each executive's retirement agreement; and • a $1.6 million increase in expenses related to litigation in the ordinary course of business.” 10-K for 2024
Our summaryAccelerated vesting of converted Sterling equity awards for employees terminated after the acquisition was recorded.
Word for word“Transaction and acquisition related charges for the year ended December 31, 2024 include approximately $125.7 million of expense associated with the acquisition of Sterling, primarily consisting of $41.2 million of compensation expense attributable to converted Sterling equity awards, of which $38.9 million related to accelerated vesting for employees terminated after the acquisition, $45.8 million of legal, regulatory, integration, and diligence professional service fees, $16.5 million in debt refinancing costs, $10.7 million in post-combination restructuring expenses, $9.5 million in success-based banking fees, and $2.0 million of other one-time transaction charges.” 10-K for 2024
Our summaryCost savings actions taken by the company primarily in the second half of 2023 reduced Legacy First Advantage personnel expenses, with related nonrecurring separation costs not recurring in 2024.
Word for word“a $3.5 million decrease in Legacy First Advantage personnel expenses due to certain cost savings actions taken by the Company primarily in the second half of 2023 and the nonrecurring separation costs related to these savings not recurring in 2024; and 50 • a $1.6 million decrease in expenses related to the impairment of certain operating lease assets resulting from office space exited in 2023 that did not reoccur in 2024.” 10-K for 2024
Our summaryOrganizational restructuring and integration charges were recorded in the year ended December 31, 2024.
Word for word“Represents charges from organizational restructuring and integration activities, non-cash, and other charges primarily related to nonrecurring legal exposures, foreign currency (gains) losses, (gains) losses on the sale of assets, and other non-recurring items.” 10-K for 2024
Our summaryThe company recorded post-combination restructuring expenses tied to the Sterling acquisition, and accelerated equity vesting for Sterling employees it terminated after the deal.
Word for word“Transaction and acquisition related charges for the year ended December 31, 2024 include approximately $125.7 million of expense associated with the Sterling Acquisition, primarily consisting of $41.2 million of compensation expense attributable to converted Sterling equity awards, of which $38.9 million related to accelerated vesting for employees terminated after the acquisition, $45.8 million of legal, regulatory, integration, and diligence professional service fees, $16.5 million in debt refinancing costs, $10.7 million in post-combination restructuring expenses, $9.5 million in success-based banking fees, and $2.0 million of other one-time transaction charges.” 10-K for 2025
Our summaryThe company took cost savings actions in the second half of 2023 that produced separation costs, which did not recur in 2024.
Word for word“The increase in selling, general, and administrative expense was partially offset by: • a $3.5 million decrease in Legacy First Advantage personnel expenses due to certain cost savings actions taken by the Company primarily in the second half of 2023 and the nonrecurring separation costs related to these savings not recurring in 2024; and • a $1.6 million decrease in expenses related to the impairment of certain operating lease assets resulting from office space exited in 2023 that did not reoccur in 2024.” 10-K for 2025
| Fiscal year ended | Restructuring charges |
|---|---|
| 2022-12-31 | $2.5 million |
| 2023-12-31 | $6.9 million |
| 2024-12-31 | $5.8 million |
| 2025-12-31 | $27.1 million |
First Advantage 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 First Advantage’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.