IDT layoffs, on the record
Every job cut, severance charge and restructuring IDT reported in its annual reports, 2024 to 2026, quoted from the filings. Headcount went from 1,833 to 1,971.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2024 | 1,833 | October 1, 2024 |
| 10-K for 2025 | 1,925 | September 1, 2025 |
| 10-K for 2026 | 1,971 | September 1, 2026 |
Job cuts, severance and restructuring
Our summaryRecorded a severance expense line for the company overall, totaling $1,698 thousand in fiscal 2024 versus $935 thousand in fiscal 2023.
Word for word“Severance 1,698 935 116 Other operating expense, net (see Note 14) 2,945 4,415 826 TOTAL OPERATING EXPENSES 325,404 296,497 264,909 Income from operations 64,753 60,743 60,089 Interest income, net 4,769 3,147 146 Other expense, net ( 7,612 ) ( 3,083 ) ( 25,352 ) Income before income taxes 61,910 60,807 34,883 Benefit from (provision for) income taxes 6,354 ( 16,441 ) ( 5,878 ) NET INCOME 68,264 44,366 29,005 Net income attributable to noncontrolling interests ( 3,810 ) ( 3,874 ) ( 1,977 ) NET INCOME ATTRIBUTABLE TO IDT CORPORATION $ 64,454 $ 40,492 $ 27,028 Earnings per share attributable to IDT Corporation common stockholders: Basic $ 2.55 $ 1.59 $ 1.05 Diluted $ 2.54 $ 1.58 $ 1.03 Weighted-average number of shares used in calculation of earnings per share: Basic 25,241 25,517 25,791 Diluted 25,398 25,577 26,356 (i) Stock-based compensation included in: Selling, general and administrative expense $ 7,015 $ 3,913 $ 1,871 Technology and development expense $ 382 $ 605 $ 59 (i) Stock-based compensation included in: Technology and development expense & Selling, general and administrative expense See accompanying notes to consolidated financial statements.” 10-K for 2024
Our summaryTraditional Communications segment recorded severance expense, which rose from fiscal 2023 to fiscal 2024.
Word for word“Severance Expense. Traditional Communications incurred severance expense of $1.6 million and $0.9 million in fiscal 2024 and fiscal 2023, respectively.” 10-K for 2024
Our summaryThe filing reports severance expense in each of the three fiscal years shown in the consolidated statements of income, with the consolidated amounts in thousands.
Word for word“Severance 898 1,698 935 Other operating expense, net (see Note 13) 6,342 2,945 4,415 TOTAL OPERATING EXPENSES 345,771 325,404 296,497 Income from operations 100,424 64,753 60,743 Interest income, net 6,127 4,769 3,147 Other expense, net ( 713 ) ( 7,612 ) ( 3,083 ) Income before income taxes 105,838 61,910 60,807 (Provision for) benefit from income taxes ( 24,699 ) 6,354 ( 16,441 ) NET INCOME 81,139 68,264 44,366 Net income attributable to noncontrolling interests ( 5,045 ) ( 3,810 ) ( 3,874 ) NET INCOME ATTRIBUTABLE TO IDT CORPORATION $ 76,094 $ 64,454 $ 40,492 Earnings per share attributable to IDT Corporation common stockholders: Basic $ 3.02 $ 2.55 $ 1.59 Diluted $ 3.01 $ 2.54 $ 1.58 Weighted-average number of shares used in calculation of earnings per share: Basic 25,188 25,241 25,517 Diluted 25,295 25,398 25,577 (i) Stock-based compensation included in total operating expenses $ 3,074 $ 7,397 $ 4,518 See accompanying notes to consolidated financial statements.” 10-K for 2025
Our summaryTraditional Communications segment recorded severance expense, which the filing says was lower in fiscal 2025 than in fiscal 2024.
Word for word“Severance Expense. Traditional Communications incurred severance expense of $0.8 million and $1.6 million in fiscal 2025 and fiscal 2024, respectively.” 10-K for 2025
Our summaryThe net2phone segment recorded severance expense in each of fiscal 2025, 2024 and 2023.
Word for word“Severance (0.1 ) (0.1 ) (0.1 ) — 5.7 — 72.1 Other operating (expense) gain, net (0.6 ) 0.1 (0.1 ) (0.7 ) nm 0.2 142.3 Income (loss) from operations $ 4.9 $ 1.7 $ (2.8 ) $ 3.2 194.4 % $ 4.5 161.0 %” 10-K for 2025
Our summaryThe company recorded a decrease in its deferred tax valuation allowance, citing UK profitability and a restructuring of its foreign operations.
Word for word“In fiscal 2026, the Company decreased the valuation allowance by $ 3.3 million due to profitability in the United Kingdom as well as restructuring of foreign operations.” 10-K for 2026
| Fiscal year ended | Severance costs |
|---|---|
| 2016-07-31 | $6.5 million |
| 2018-07-31 | $4.6 million |
| 2019-07-31 | $1.4 million |
| 2020-07-31 | $3.5 million |
| 2021-07-31 | $452,000 |
| 2022-07-31 | $116,000 |
| 2023-07-31 | $935,000 |
| 2024-07-31 | $1.7 million |
| 2025-07-31 | $898,000 |
IDT 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 IDT’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 2026-09-29. 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.