ITT layoffs, on the record
Every job cut, severance charge and restructuring ITT reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 10,600 to approximately 11,600.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 10,600 | December 31, 2023 |
| 10-K for 2024 | approximately 11,700 | December 31, 2024 |
| 10-K for 2025 | approximately 11,600 | As of December 31, 2025 |
Job cuts, severance and restructuring
Our summaryThe company reported total restructuring costs for 2023, mostly severance and other employee-related costs, recorded in general and administrative expenses.
Word for word“The following table summarizes our restructuring costs by component and by segment.” 10-K for 2023
Our summaryThe company stated that it initiates restructuring actions to align its workforce with strategic business initiatives, and that none of its 2023, 2022 and 2021 restructuring activities were individually significant.
Word for word“For the years ended December 31, 2023, 2022, and 2021, none of our restructuring activities were considered individually significant.” 10-K for 2023
Our summaryThe company reported a restructuring liability rollforward, with cash payments for restructuring and a year-end accrued balance.
Word for word“The following table displays a rollforward of our total restructuring liability, which is included within Accrued and other current liabilities in our Consolidated Balance Sheets.” 10-K for 2023
Our summaryThe company reported restructuring costs within its segment results, including Motion Technologies and Industrial Process.
Word for word“By segment: Motion Technologies $ 4.0 $ 2.7 $ 3.9 Industrial Process 4.6 1.3 3.1 Connect & Control Technologies 1.3 — 2.4 Corporate and Other — ( 0.2 ) 0.2 Total restructuring costs $ 9.9 $ 3.8 $ 9.6” 10-K for 2023
Our summaryITT recorded restructuring costs of $8.1 million in 2024 within special items excluded from adjusted operating income.
Word for word“Restructuring costs 2.7 3.0 2.4 — 8.1 Acquisition-related costs — 4.2 2.8 — 7.0 Impacts related to Russia-Ukraine war (0.6) — — — (0.6) Adjusted operating income (loss) $ 268.9 $ 283.5 $ 151.3 $ (61.0) $ 642.7 Operating margin 21.7 % 20.3 % 17.7 % 18.6 % Adjusted operating margin 18.6 % 20.8 % 18.3 % 17.7 % Year Ended December 31, 2023 Operating income (loss) $ 230.8 $ 243.6 $ 107.5 $ (53.7) $ 528.2 Loss on sale of Matrix business — — 15.3 — 15.3 Restructuring costs 4.0 4.6 1.3 — 9.9 Impacts related to Russia-Ukraine war 1.3 1.2 — — 2.5 Acquisition-related costs — — 2.4 — 2.4 Other (a) 0.1 — (0.1) (3.7) (3.7) Adjusted operating income (loss) $ 236.2 $ 249.4 $ 126.4 $ (57.4) $ 554.6 Operating margin 15.8 % 21.6 % 15.4 % 16.1 % Adjusted operating margin 16.2 % 22.1 % 18.1 % 16.9 % (a) Includes income from a recovery of costs associated with the 2020 lease termination of a legacy site.” 10-K for 2024
Our summaryITT reported accrued restructuring costs on its balance sheet, which fell from 4.8 to 2.9 between the two year-ends.
Word for word“Accrued restructuring costs 2.9 4.8 Other 49.8 39.2 Accrued and other current liabilities $ 447.2 $ 413.1 Operating lease liabilities $ 73.7 $ 72.3 Environmental liabilities 51.1 52.0 Deferred income taxes and other tax-related liabilities 60.4 25.0 Compensation and other employee-related benefits 37.0 38.0 Other 34.1 24.0 Other non-current liabilities $ 256.3 $ 211.3 Supply Chain Financing The Company has supply chain financing ("SCF") programs in place under which participating suppliers may elect to obtain payment from an intermediary.” 10-K for 2024
Our summaryITT recorded restructuring costs of $9.9 million in 2023 within special items excluded from adjusted operating income.
Word for word“Restructuring costs 4.0 4.6 1.3 — 9.9 Impacts related to Russia-Ukraine war 1.3 1.2 — — 2.5 Acquisition-related costs — — 2.4 — 2.4 Other (a) 0.1 — (0.1) (3.7) (3.7) Adjusted operating income (loss) $ 236.2 $ 249.4 $ 126.4 $ (57.4) $ 554.6” 10-K for 2024
Our summaryITT recorded restructuring costs in 2025 to optimize its cost structure, improve efficiency, align its workforce and integrate acquired businesses, mostly severance and other employee-related costs.
Word for word“Severance and other employee-related costs $ 21.2 $ 8.1 $ 8.0 Asset write-offs 0.1 — 1.8 Other — — 0.1 Total restructuring costs $ 21.3 $ 8.1 $ 9.9 By segment: Motion Technologies $ 9.4 $ 2.7 $ 4.0 Industrial Process 8.2 3.0 4.6 Connect & Control Technologies 3.7 2.4 1.3 Total restructuring costs $ 21.3 $ 8.1 $ 9.9 75 The following table displays a rollforward of our total restructuring liability, which is included within Accrued and other current liabilities in our Consolidated Balance Sheets.” 10-K for 2025
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2016-12-31 | $24.3 million | $26.3 million | $30.3 million |
| 2017-12-31 | $9.8 million | $13.1 million | $17.8 million |
| 2018-12-31 | $4.5 million | $5.2 million | $8.2 million |
| 2019-12-31 | $12.4 million | $12.8 million | $11.7 million |
| 2020-12-31 | $41.5 million | $43 million | $33 million |
| 2021-12-31 | $8 million | $9.6 million | $16.5 million |
| 2022-12-31 | $3.5 million | $3.8 million | $10.5 million |
| 2023-12-31 | $8 million | $9.9 million | $7.3 million |
| 2024-12-31 | $8.1 million | $8.1 million | $10 million |
| 2025-12-31 | $21.2 million | $21.3 million | $20.6 million |
ITT 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 ITT’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 2026-02-09. 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.