First Citizens Bancshares layoffs, on the record
Every job cut, severance charge and restructuring First Citizens Bancshares reported in its annual reports, 2023 to 2025, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 16,021 employees | As of December 31, 2023 |
| 10-K for 2024 | 17,475 | As of December 31, 2024 |
| 10-K for 2025 | approximately 17,876 full-time staff and approximately 265 part-time staff for a total of 18,141 employees | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryAcquisition-related expenses rose, primarily due to severance, retention, consulting and legal costs related to the SVBB Acquisition.
Word for word“The $239 million increase in acquisition-related expenses was primarily due to severance, retention, consulting and legal costs related to the SVBB Acquisition.” 10-K for 2023
Our summaryThe filing says its acquisition-related personnel costs include severance and retention costs for employees tied to business combinations.
Word for word“Personnel cost primarily includes severance and retention costs for employees associated with business combinations.” 10-K for 2024
Our summaryThe company recorded severance and retention costs for employees tied to business combinations, recognized over the required service period.
Word for word“Acquisition-related personnel cost primarily includes severance and retention costs for employees associated with business combinations.” 10-K for 2025
First Citizens Bancshares 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 Citizens Bancshares’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 2026-02-24. 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.