GMS layoffs, on the record
Every job cut, severance charge and restructuring GMS reported in its annual reports, 2023 to 2025, quoted from the filings.
Job cuts, severance and restructuring
Our summaryThe filing mentions a restructuring accounting policy: a liability is recognized for exit or disposal costs when incurred, and employee termination accruals are set up after management approves a detailed plan.
Word for word“Restructuring The Company recognizes a liability for costs associated with an exit or disposal activity when the liability is incurred.” 10-K for 2023
Our summaryThe filing shows a severance and other permitted costs line in the Adjusted EBITDA reconciliation, which is a non-GAAP add-back rather than a stated layoff program.
Word for word“Severance and other permitted costs(d) 2,628 2,788 1,132 Transaction costs (acquisitions and other)(e) 4,856 1,961 3,545 Gain on disposal of assets(f) (729) (1,413) (913) Effects of fair value adjustments to inventory(g) 1,633 1,123 3,818 Debt transaction costs(h) 1,320 173 — Adjusted EBITDA $ 615,454 $ 665,696 $ 566,921 Net sales $ 5,501,907 $ 5,329,252 $ 4,634,875 Adjusted EBITDA Margin 11.2 % 12.5 % 12.2 % ___________________________________ (a) Represents changes in the fair value of stock appreciation rights.” 10-K for 2024
Our summaryThe filing notes restructuring costs are recognized when a liability is incurred and includes employee termination accruals, but reports no specific restructuring amounts or program in this excerpt.
Word for word“After the appropriate level of management approves the detailed restructuring plan and the criteria for recognition are met, the Company establishes accruals for employee termination and other costs, as applicable.” 10-K for 2024
Our summaryThe company carried out cost reduction plans in fiscal 2025 that cut jobs and closed four distribution centers, recording $13.5 million of one-time costs.
Word for word“During fiscal 2025, the Company implemented strategic cost reduction plans to improve operational efficiency, including reductions in workforce and the closure of four distribution centers.” 10-K for 2025
Our summaryThe company recorded restructuring costs for a cost reduction plan, mostly in its geographic divisions segment, including severance for a workforce reduction and a lease asset impairment for closed facilities.
Word for word“During fiscal 2025, the Company recorded $ 13.5 million of restructuring costs as part of a strategic cost reduction plan to improve operational efficiency, primarily in its geographic divisions segment, which included $ 10.1 million of severance and other employee costs in connection with a reduction in workforce and $ 3.4 million for impairment of operating lease ROU assets in connection with the closure of certain facilities.” 10-K for 2025
| Fiscal year ended | Severance costs | Restructuring charges |
|---|---|---|
| 2025-04-30 | $10.1 million | $13.5 million |
GMS 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 GMS’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 2025-06-18. 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.