Hyster-yale layoffs, on the record
Every job cut, severance charge and restructuring Hyster-yale reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 8,600 to approximately 7,500.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 8,600 | January 31, 2024 |
| 10-K for 2024 | approximately 8,500 | January 31, 2025 |
| 10-K for 2025 | approximately 7,500 | January 31, 2026 |
Job cuts, severance and restructuring
Our summaryRecognized restructuring and impairment charges to streamline the manufacturing footprint and optimize operations, primarily employee severance and impairment of long-lived assets.
Word for word“During 2024, the Company recognized restructuring and impairment charges of $ 22.6 million ($ 6.8 million in the Americas, $ 2.4 million in EMEA, $ 8.6 million in JAPIC, $ 4.3 million in Bolzoni and $ 0.5 million in Nuvera), primarily related to programs to streamline the Company's manufacturing footprint and optimize its operations by reducing costs and improving operational efficiency.” 10-K for 2024
Our summaryExpects to execute the restructuring programs over the next 12 to 36 months and estimates additional restructuring charges in 2025 and 2026.
Word for word“As of December 31, 2024, the Company estimates incurring additional restructuring charges of approximately $ 8 million to $ 16 million is each of 2025 and 2026 related to these plans.” 10-K for 2024
Our summaryRecorded severance charges under the restructuring program, with a remaining severance liability at year end.
Word for word“Following is the detail of the cash charges related to this program: Severance Balance, January 1, 2024 $ — Charges 12.6 Payments ( 0.4 ) Balance, December 31, 2024 $ 12.2 NOTE 20— Maximal Equity Transfer Agreement During 2021, the Company signed an Equity Transfer Agreement ("ETA") with Y-C Hongkong Holding Co., Limited (“HK Holding Co”).” 10-K for 2024
Our summaryThe company started a global workforce reduction in the fourth quarter of 2025 and recorded severance charges for it.
Word for word“(1) As a result of current economic and industry dynamics, the Company initiated a reduction in the Company's global workforce in the fourth quarter of 2025.” 10-K for 2025
Our summaryThe company recorded restructuring and impairment charges tied to the global workforce reduction and the Nuvera realignment, compared with the prior year's footprint optimization.
Word for word“Additionally, the Company recognized $38.4 million in restructuring and impairment charges associated with a reduction in the Company's global workforce initiated in the fourth quarter of 2025 and the strategic realignment of Nuvera initiated in the second quarter of 2025 compared to $22.6 million in 2024 to optimize the Company's manufacturing footprint.” 10-K for 2025
Our summaryThe company launched a restructuring program that targets annual cost reductions starting in 2026.
Word for word“Building on this momentum, the Company launched a restructuring program in Q4 2025, including targeted annualized cost reductions of $40–$45 million beginning in 2026.” 10-K for 2025
Our summaryThe company carried out a strategic realignment of Nuvera that saved money for the year.
Word for word“Nuvera’s strategic realignment was executed in Q2 2025 and delivered immediate benefits, resulting in $15 million of cost savings for the year along with the redeployment of resources to higher-growth areas.” 10-K for 2025
Our summaryThe company expects to close its unionized Danville, Illinois parts depot and move operations to Avon, Indiana.
Word for word“Although the Company’s current contract with the Danville union expires in 2027, the Company expects to close the Danville location and move the parts depot operations to the Avon, Indiana Customer and Parts Solution Center in 2026.” 10-K for 2025
Our summaryThe company expects more costs in 2026 and 2027 from its restructuring initiatives.
Word for word“As of December 31, 2025, these initiatives are expected to incur an additional $10 million to $12 million and $3 million to $6 million in costs in 2026 and 2027, respectively.” 10-K for 2025
| Fiscal year ended | Severance costs | Restructuring charges | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|---|---|
| 2019-12-31 | — | — | — | $400,000 |
| 2020-12-31 | — | — | $4.4 million | $400,000 |
| 2021-12-31 | — | $400,000 | $4.3 million | $2.7 million |
| 2022-12-31 | — | $0 | — | — |
| 2023-12-31 | — | $0 | — | — |
| 2024-12-31 | $22.6 million | $22.6 million | — | −$400,000 |
| 2025-12-31 | — | $38.4 million | — | −$8.9 million |
Hyster-yale filed 1 restructuring notice (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 Hyster-yale’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 2026-03-03. 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.