Firstenergy layoffs, on the record
Every job cut, severance charge and restructuring Firstenergy reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from 12,042 to 11,186.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 12,042 | December 31, 2023 |
| 10-K for 2024 | 12,294 | December 31, 2024 |
| 10-K for 2025 | 11,186 | As of December 31, 2025 |
Job cuts, severance and restructuring
Our summaryFirstEnergy announced a voluntary retirement program for eligible non-bargaining employees, known as the PEER, which included lump sum severance-type payments, healthcare continuation costs and a temporary pension enhancement.
Word for word“On May 9, 2023, FirstEnergy announced a voluntary retirement program for eligible non-bargaining employees, known as the PEER.” 10-K for 2023
Our summaryThe PEER program and involuntary separations in 2023 produced lump sum compensation and severance benefits, recorded as an increase in other operating expenses.
Word for word“Lump sum compensation and severance benefits of $42 million associated with the PEER program and involuntary separations in 2023, as further discussed below; ” 10-K for 2023
Our summaryIn the 2023 results discussion, the company reported lump sum compensation and severance benefits of $24 million tied to the PEER program and involuntary separations in 2023.
Word for word“Lump sum compensation and severance benefits of $24 million associated with the PEER program and involuntary separations in 2023; ” 10-K for 2024
Our summaryIn the 2023 results discussion for another segment, the company reported lump sum compensation and severance benefits tied to the PEER program and involuntary separations in 2023.
Word for word“Lump sum compensation and severance benefits of $18 million associated with the PEER program and involuntary separations in 2023; ” 10-K for 2024
Our summaryThe company executed a pension lift-out transaction that transferred pension obligations for former competitive generation employees to an insurer, with no change to benefits.
Word for word“In January 2025, FirstEnergy executed an additional pension lift-out transaction associated with over $652 million in pension obligations relating to its former competitive generation employees.” 10-K for 2024
Our summaryThe company executed a pension lift-out transaction with Banner Life and Reinsurance Group of America, transferring pension assets and obligations for former competitive generation employees.
Word for word“In December 2023, FirstEnergy, executed a lift-out transaction with Banner Life Insurance Company and Reinsurance Group of America that transferred approximately $683 million of plan assets and $719 million of plan obligations, associated with approximately 1,900 former competitive generation employees, who will assume future and full responsibility to fund and administer their benefit payments.” 10-K for 2024
Firstenergy 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 Firstenergy’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 2026-02-18. 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.