ICU Medical layoffs, on the record
Every job cut, severance charge and restructuring ICU Medical reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 14,000 to approximately 13,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 14,000 | December 31, 2023 |
| 10-K for 2024 | approximately 15,000 | December 31, 2024 |
| 10-K for 2025 | approximately 13,000 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryRestructuring charges were incurred in 2023, net of reversed accruals, primarily related to severance costs.
Word for word“In 2023, we incurred restructuring charges net of reversed accruals of $5.7 million primarily related to severance costs.” 10-K for 2023
Our summaryCompany reversed accrued restructuring balances related to severance and facility closure costs that will not be used.
Word for word“We reversed approximately $1.0 million in accrued restructuring balances related to severance and facility closure costs that will not be utilized.” 10-K for 2023
Our summaryCompany incurred restructuring charges primarily related to severance costs.
Word for word“In 2022, we incurred restructuring charges of $9.7 million primarily related to severance costs.” 10-K for 2023
Our summaryCompany adjusted facility restructuring liabilities, resulting in net restructuring credits.
Word for word“In 2021, we adjusted certain facility restructuring liabilities by $2.0 million to reflect actual amounts owed resulting in annual net restructuring credits of $(1.8) million.” 10-K for 2023
Our summaryCompany recorded restructuring charges, mainly severance costs, in 2024 as part of cost reduction and realignment activities after the Smiths Medical acquisition.
Word for word“In 2024, we incurred restructuring charges of $19.6 million primarily related to severance costs.” 10-K for 2024
Our summaryCompany disclosed a 2024 restructuring accrual activity table showing severance and facility closure charges, payments and reversals.
Word for word“Accrued balance, December 31, 2024 $ 9,538 $ 407 $ 9,945 _______________________________________________ (1) Relates to accrued restructuring charges for estimated facility closure costs and severance costs that will not be utilized and were reversed during the year.” 10-K for 2024
Our summaryCompany expects to spend on restructuring and integration expenses and quality systems in 2025, tied to the Smiths Medical acquisition.
Word for word“In connection with the January 2022 acquisition of Smiths Medical, we estimate the investment needed in 2025 for restructuring and integration expenses along with spending to support quality systems and quality compliance objectives to be in the range of $90 million to $110 million, which includes acquired accrued field action liabilities.” 10-K for 2024
Our summaryThe company recorded restructuring charges in 2025, mainly for closing facilities and severance.
Word for word“In 2025, we incurred restructuring charges of $30.0 million primarily related to facility closure costs and severance costs.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|---|
| 2016-12-31 | $800,000 | — | $5.9 million |
| 2017-12-31 | $18.8 million | — | $18.3 million |
| 2018-12-31 | $4.5 million | — | $5.1 million |
| 2019-12-31 | $8.4 million | — | $4.2 million |
| 2020-12-31 | $7.9 million | — | $10.4 million |
| 2021-12-31 | −$1.8 million | — | $969,000 |
| 2022-12-31 | $9.7 million | $9.7 million | $11.4 million |
| 2023-12-31 | $5.7 million | $5.7 million | $7.9 million |
| 2024-12-31 | — | $19.6 million | $13.3 million |
| 2025-12-31 | — | $30 million | $27.5 million |
ICU Medical 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 ICU Medical’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 2026-02-19. 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.