Flex layoffs, on the record
Every job cut, severance charge and restructuring Flex reported in its annual reports, 2024 to 2026, quoted from the filings. Headcount went from approximately 148,000 to approximately 150,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2024 | approximately 148,000 | March 31, 2024 |
| 10-K for 2025 | approximately 148,000 | March 31, 2025 |
| 10-K for 2026 | approximately 150,000 | As of March 31, 2026 |
Job cuts, severance and restructuring
Our summaryThe company stated it initiated targeted restructuring activities in fiscal years 2024, 2023, and 2022 to reduce excess workforce capacity and optimize its portfolio and cost structure.
Word for word“In recent years, including fiscal years 2024, 2023, and 2022, we initiated targeted restructuring activities focused on improving operational efficiencies by reducing excess workforce capacity, optimizing our portfolio (in particular, customers and products in our consumer devices business), and optimizing our cost structure in lower growth areas.” 10-K for 2024
Our summaryThe company reported that its fiscal 2024 gross profit decreased mainly because of higher restructuring charges.
Word for word“The decrease in gross profit due to lower sales was mitigated by higher gross profit margins and the $0.1 billion gross profit decrease was primarily driven by $0.1 billion in higher restructuring charges.” 10-K for 2024
Our summaryThe filing says the company initiated targeted restructuring activities in fiscal years 2025, 2024 and 2023 to reduce excess workforce capacity and optimize its portfolio and cost structure.
Word for word“In recent years, including fiscal years 2025, 2024, and 2023, we initiated targeted restructuring activities focused on improving operational efficiencies by reducing excess workforce capacity, optimizing our portfolio, and optimizing our cost structure in lower growth areas.” 10-K for 2025
Our summaryThe filing states that restructuring activities involve workforce reductions at some locations and closure of certain facilities.
Word for word“Restructuring activities involve reductions in our workforce at some locations and closure of certain facilities.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Positions expected to be eliminated |
|---|---|---|
| 2017-03-31 | $38.8 million | — |
| 2018-03-31 | $90.7 million | 6,203 |
| 2019-03-31 | $113 million | — |
| 2020-03-31 | $216.4 million | — |
| 2021-03-31 | $101 million | — |
| 2022-03-31 | $15 million | — |
| 2023-03-31 | $27 million | — |
| 2024-03-31 | $175 million | — |
| 2025-03-31 | $86 million | — |
| 2026-03-31 | $87 million | — |
Flex 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 Flex’s annual reports (10-K for 2026, 10-K for 2025, 10-K for 2024) and the financial data it files with the SEC, as of 2026-05-20. 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.