Stratrix
On the Record · First Bancorp

First Bancorp layoffs, on the record

Every job cut, severance charge and restructuring First Bancorp reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from 3,168 to 3,218.

Headcount, as reported

Annual reportEmployeesAs of
10-K for 20233,168December 31, 2023
10-K for 20243,113December 31, 2024
10-K for 20253,218December 31, 2025

Job cuts, severance and restructuring

  1. Our summaryVoluntary Employee Separation Program and involuntary separation actions in the Puerto Rico region were part of merger and restructuring costs tied to the BSPR acquisition integration, reported for 2021. Cost: approximately $6.5 million related to a Voluntary Employee Separation Program (the "VSP")

    Word for word“Merger and restructuring costs included approximately $6.5 million related to a Voluntary Employee Separation Program (the “VSP”) as well as involuntary separation actions implemented in the Puerto Rico region.” 10-K for 2023

First Bancorp 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 Bancorp’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 2026-02-27. 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.