Labcorp layoffs, on the record
Every job cut, severance charge and restructuring Labcorp reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from more than 67,000 to nearly 71,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | more than 67,000 | — |
| 10-K for 2024 | nearly 70,000 | — |
| 10-K for 2025 | nearly 71,000 | 2025 |
Job cuts, severance and restructuring
Our summaryCompany recorded net restructuring charges in 2023, comprised of severance and other personnel costs and facility-related costs tied to general integration activities.
Word for word“During 2023, the Company recorded net restructuring charges of $ 49.1 .” 10-K for 2023
Our summaryCompany recorded net restructuring charges in 2022, comprised of severance and other personnel costs and facility-related costs tied to general integration activities.
Word for word“During 2022, the Company recorded net restructuring charges of $ 54.0 .” 10-K for 2023
Our summaryCompany recorded net restructuring charges in 2021, comprised of severance and other personnel costs and facility-related costs tied to general integration activities.
Word for word“During 2021, the Company recorded net restructuring charges of $ 24.0 .” 10-K for 2023
Our summarySpin-off of Fortrea moved a large group of employees from the Company to Fortrea.
Word for word“With the completion of the spin-off of Fortrea, nearly 20,000 employees moved from the Company to Fortrea.” 10-K for 2023
Our summaryRecorded net restructuring charges for severance and other personnel costs and facility-related costs tied to elimination of redundant positions and facilities, cost saving initiatives, the Fortrea spin-off, and business acquisitions or dispositions.
Word for word“During 2024, the Company recorded net restructuring charges of $ 46.0 .” 10-K for 2024
Our summaryThe company recorded net restructuring charges for 2025, including charges tied to restructuring its Early Development business, made up of asset impairments, severance, facility and contract termination costs, less reversals of earlier liabilities.
Word for word“For the year ended December 31, 2025, the Company recorded net restructuring charges of $127.2, including $105.5 of charges associated with the restructuring of ED.” 10-K for 2025
Our summaryThe company recorded net restructuring charges in 2024, mostly severance and facility costs from general integration activities.
Word for word“For the year ended December 31, 2024, the Company recorded net restructuring charges of $46.0.” 10-K for 2025
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2016-12-31 | $30.9 million | $64.7 million | — |
| 2017-12-31 | $36.1 million | $76 million | — |
| 2018-12-31 | $40.3 million | $52.1 million | — |
| 2019-12-31 | $32.9 million | $33.1 million | — |
| 2020-12-31 | $14.1 million | $33 million | $46.2 million |
| 2021-12-31 | $12.4 million | $44.3 million | $42.5 million |
| 2022-12-31 | $24.8 million | $55.9 million | $47.8 million |
| 2023-12-31 | $33.4 million | $55.7 million | $40 million |
| 2024-12-31 | $43 million | — | $45.3 million |
| 2025-12-31 | $27.2 million | — | $27.4 million |
Labcorp 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 Labcorp’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 2026-02-24. 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.