Interpublic Group of Companies layoffs, on the record
Every job cut, severance charge and restructuring Interpublic Group of Companies reported in its annual reports, 2022 to 2024, quoted from the filings. Headcount went from approximately 58,400 to approximately 53,300.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | approximately 58,400 | December 31, 2022 |
| 10-K for 2023 | approximately 57,400 | December 31, 2023 |
| 10-K for 2024 | approximately 53,300 | December 31, 2024 |
Job cuts, severance and restructuring
Our summaryIn the fourth quarter of 2022, the company took Real Estate Actions tied to new real estate exits and lease terminations, cutting its occupied global footprint by about 6.7%; the actions carried no severance.
Word for word“The 2022 Real Estate Actions did not include any severance and termination costs.” 10-K for 2022
Our summaryThe company took restructuring actions in 2020 to lower operating expenses, reducing its global real estate footprint and downsizing selected levels of management and staff.
Word for word“These actions, taken during the second, third and fourth quarters of 2020, reduced our global real estate footprint by approximately 15% or 1,700,000 square feet and, further, downsized selected levels of management and staff with severance costs for 1,520 employees or approximately 3%.” 10-K for 2022
Our summarySeverance and termination costs under the 2020 Plan were adjusted, leaving a remaining liability at year end 2022.
Word for word“As of December 31, 2022, our remaining liability related to restructuring charges was $2.3, which relates solely to the actions taken in 2020.” 10-K for 2022
Our summaryTook real estate actions to exit leases and terminate leases, reducing the occupied global real estate footprint by about 6.7%, with lease impairments and other restructuring costs; no severance was included.
Word for word“These Real Estate Actions, taken during the fourth quarter of 2022, reduced our occupied global real estate footprint by approximately 6.7% or 500,000 square feet.” 10-K for 2023
Our summaryRecorded 2023 restructuring adjustments to the 2022 Real Estate Actions and to the 2020 Plan, including small severance and termination costs.
Word for word“The amounts for the year ended December 31, 2023 represent adjustments to the 2022 Real Estate Actions, as well as adjustments to the actions taken in 2020.” 10-K for 2023
Our summaryContinued the 2020 Restructuring Plan, which lowered operating expenses structurally and permanently relative to revenue, including severance and termination costs, lease impairments and other costs; all actions were completed by the end of 2020.
Word for word“Beginning in the second quarter of 2020, the Company took restructuring actions to lower its operating expenses structurally and permanently relative to revenue and to accelerate the transformation of our business (the “2020 Plan”).” 10-K for 2023
Our summaryThe company said it began restructuring actions in early 2025 to transform the business and cut structural costs, with the specific actions still being decided.
Word for word“Beginning in the first quarter of 2025, management began initiating restructuring actions designed to transform our business, enhance our offerings and drive significant structural expense savings.” 10-K for 2024
Our summaryIn 2024 the company recorded small adjustments to its 2020 and 2022 restructuring actions, mostly tied to ending property leases early.
Word for word“During the fourth quarter and year ended December 31, 2024 , restructuring charges represent adjustments to our restructuring actions taken in 2020 and 2022, and primarily relate to the early termination of certain property leases.” 10-K for 2024
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2017-12-31 | $0 | −$400,000 | — |
| 2018-12-31 | $0 | $0 | — |
| 2019-12-31 | $22 million | $33.9 million | $20.4 million |
| 2020-12-31 | $140.4 million | $413.8 million | — |
| 2021-12-31 | $400,000 | $10.6 million | — |
| 2022-12-31 | −$100,000 | $102.4 million | — |
| 2023-12-31 | $400,000 | $100,000 | — |
| 2024-12-31 | $0 | −$5 million | — |
Interpublic Group of Companies 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 Interpublic Group of Companies’s annual reports (10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2025-02-20. 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.