Korn Ferry layoffs, on the record
Every job cut, severance charge and restructuring Korn Ferry reported in its annual reports, 2024 to 2026, quoted from the filings. Headcount went from 9,076 to 8,965.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2024 | 9,076 | April 30, 2024 |
| 10-K for 2025 | 9,253 | April 30, 2025 |
| 10-K for 2026 | 8,965 | As of April 30, 2026 |
Job cuts, severance and restructuring
Our summaryLaunched a workforce restructuring plan to align headcount with business conditions through position eliminations, affecting about eight percent of employees.
Word for word“Performance Highlights In light of the challenging macroeconomic business environment arising from persistent inflationary pressures, rising interest rates, and global economic and geopolitical uncertainty, which we expected to result in near-term slowing or declines in fee revenue, on October 23, 2023, we initiated a plan (the "Plan") intended to align our workforce with our current business realities through position eliminations, which affected approximately eight percent of the Company's employees.” 10-K for 2024
Our summaryRecorded restructuring charges in fiscal 2024 under the Plan to eliminate excess capacity.
Word for word“Restructuring Charges, Net During the second quarter of fiscal 2024, we implemented the Plan to eliminate excess capacity resulting from a challenging and uncertain macroeconomic business environment.” 10-K for 2024
Our summaryImplemented a separate restructuring plan in fiscal 2023 to eliminate excess capacity and realign the workforce.
Word for word“In fiscal 2023, the Company implemented a separate restructuring plan to eliminate excess capacity resulting from the challenging macroeconomic business environment impacting demand and to realign our workforce with our business needs and objectives and as a result recorded restructuring charges, net of $42.6 million.” 10-K for 2024
Our summaryRecorded higher severance expense due to lay-offs during the year.
Word for word“The decrease was partially offset by higher deferred compensation expenses of $29.7 million as a result of an increase in the fair value of participants' accounts, a $9.2 million increase in severance due to lay-offs that took place during the year, $5.7 million more in integration and acquisition costs and an increase in the amortization of long-term awards of $4.4 million in fiscal 2024 compared to fiscal 2023.” 10-K for 2024
Our summaryCompany implemented a plan to eliminate excess capacity in the second quarter of fiscal 2024, recording restructuring charges, net.
Word for word“During the second quarter of fiscal 2024, we implemented a plan intended to eliminate excess capacity resulting from the challenging and uncertain macroeconomic business environment.” 10-K for 2025
Our summaryCompany recorded an adjustment to previously recorded restructuring accruals in fiscal 2025.
Word for word“During fiscal 2025, we recorded an adjustment to the previously recorded restructuring accruals of $1.9 million.” 10-K for 2025
Our summaryFiling states the company recently reduced headcount, a risk that may be exacerbated if it cannot retain personnel.
Word for word“In addition, risks associated with our recent reduction in headcount may be exacerbated if we are unable to retain qualified personnel.” 10-K for 2025
Our summaryAccrued restructuring charges remained as a contractual obligation at fiscal year end.
Word for word“Accrued restructuring charges 13 169 169 — — — Interest payments on COLI loans (2) 11 27,761 4,328 8,650 7,752 7,031 Long-term debt 11 400,000 — 400,000 — — Estimated interest on long-term debt (3) 11 55,500 18,500 37,000 — — Total $ 702,361 $ 67,467 $ 507,563 $ 47,164 $ 80,167 _______________________________ (1) See the corresponding Note in the accompanying consolidated financial statements in Item 15.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2017-04-30 | $34.6 million | $23.7 million |
| 2018-04-30 | — | $10.6 million |
| 2019-04-30 | — | $284,000 |
| 2020-04-30 | $58.6 million | $16.7 million |
| 2021-04-30 | $30.7 million | $56.4 million |
| 2022-04-30 | $0 | $4.8 million |
| 2023-04-30 | $42.6 million | — |
| 2024-04-30 | $68.6 million | — |
| 2025-04-30 | $1.9 million | — |
| 2026-04-30 | $0 | — |
Korn Ferry filed 5 restructuring notices (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 Korn Ferry’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 2026-06-26. 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.