Innovate layoffs, on the record
Every job cut, severance charge and restructuring Innovate reported in its annual reports, 2023 to 2025, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 3,946 full-time employees and 78 part-time employees | December 31, 2023 |
| 10-K for 2024 | 3,135 full-time employees and 26 part-time employees | December 31, 2024 |
| 10-K for 2025 | 3,587 full-time employees and 151 part-time employees | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryDBMG recorded restructuring costs for a one-time internal project to revamp its back-office functions, with the costs included in SG&A.
Word for word“DBMG incurred approximately $ 2.1 million and $ 6.5 million of restructuring costs for the years ended December 31, 2023 and 2022, which are included in Selling, general and administrative expenses in the Consolidated Statements of Operations.” 10-K for 2023
Our summaryThe company recorded a $2.1 million restructuring charge for a foreign office closure in 2023.
Word for word“Selling, general and administrative expense for the year ended December 31, 2023 increased $2.1 million to $126.0 million from $123.9 million for the year ended December 31, 2022.” 10-K for 2023
Our summaryEmployment of a named executive ceased and the company is paying her severance payments and benefits.
Word for word“Herbst's employment with the Company ceased on October 20, 2023 and the Company is paying Ms. Herbst severance payments and benefits.” 10-K for 2023
Our summaryNon-Operating Corporate salaries, benefits and bonus fell due to reduced headcount and a change in CEO, and severance was paid to the former Chief Operating Officer in 2023.
Word for word“The increase was due to a decrease in selling, general and administrative expenses ("SG&A") of $12.1 million and a decrease in depreciation and amortization of $7.0 million, partially offset by a net decrease in gross profit of $5.4 million and an increase in other operating expense of $0.6 million.” 10-K for 2023
Our summarySpectrum segment recorded increased severance expense and related compensation costs at Station Group.
Word for word“Adjusted EBITDA from our Spectrum segment for the year ended December 31, 2023 decreased $2.5 million to $2.0 million from $4.5 million for the year ended December 31, 2022.” 10-K for 2023
Our summaryOther segment recorded severance related expense at TIC Holdco, Inc.
Word for word“The decrease in Adjusted EBITDA was primarily driven by reduced contribution from HMN, which was sold on March 6, 2023 and, to a lesser extent, severance related expense incurred in 2023 at TIC Holdco, Inc.” 10-K for 2023
Our summarySelling, general and administrative expense at the Spectrum segment decreased in 2024 mainly because severance expense recorded in the prior year was not repeated.
Word for word“The decrease was primarily driven by unrepeated severance expense in the prior year and a decrease in salaries and benefits expense as a result of a reduction in headcount.” 10-K for 2024
Our summaryOther segment costs fell because severance at TIC Holdco, Inc. recorded in the prior year was not repeated.
Word for word“The decrease in Adjusted EBITDA loss was driven primarily by unrepeated severance expense at TIC Holdco, Inc. in the prior year and our previous investment in HMN, which was sold on March 6, 2023, and had equity method losses for the approximately two months of ownership in 2023.” 10-K for 2024
| Fiscal year ended | Severance costs |
|---|---|
| 2022-12-31 | $700,000 |
Innovate 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 Innovate’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 2026-03-26. 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.