Leonardo DRS layoffs, on the record
Every job cut, severance charge and restructuring Leonardo DRS reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 6,600 to approximately 7,300.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 6,600 | As of December 31, 2023 |
| 10-K for 2024 | approximately 7,000 | As of December 31, 2024 |
| 10-K for 2025 | approximately 7,300 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryCompany recorded restructuring charges tied to targeted initiatives to rationalize headcount, mainly employee termination and severance costs plus facility-related costs, within its ASC segment.
Word for word“In connection with these restructuring initiatives, we recorded charges totaling $ 11 million, $ 3 million and $ 5 million for the years ended December 31, 2023, 2022 and 2021, respectively.” 10-K for 2023
Our summaryRestructuring costs for 2023 were broken out by nature as severance and facility abandonment.
Word for word“See the table below for a breakout of restructuring costs by nature of cost incurred: Year Ended December 31, (Dollars in millions) 2023 2022 2021 Severance $ 9 $ 2 $ 5 Facility abandonment 2 1 — Total $ 11 $ 3 $ 5 The following is a summary of changes in the restructuring provision balance during the years ended December 31, 2023 and 2022: (Dollars in millions) Balance at January 1, 2022 $ 4 Additional provision 3 Reversal and utilization ( 3 ) Balance at December 31, 2022 4 Additional provision 11 Reversal and utilization ( 5 ) Balance at December 31, 2023 $ 10 Product Warranties Product warranty costs generally are accrued in proportion to product revenue realized in conjunction with our over time revenue recognition policy.” 10-K for 2023
Our summaryRestructuring provision balance on the balance sheet at year end 2023, after additional provisions and utilization.
Word for word“Restructuring costs 10 4 Provision for contract losses 36 54 Operating lease liabilities 23 25 Taxes payable 46 31 Other (1) 35 60 Total other current liabilities $ 288 $ 323 Operating lease liabilities $ 68 $ 68 Taxes payable 36 21 Other (2) 25 9 Total other noncurrent liabilities $ 129 $ 98 ________________ (1) Consists primarily of environmental remediation reserves and warranty reserves.” 10-K for 2023
Our summaryCompany ran targeted restructuring initiatives within its ASC segment to rationalize headcount and align operations, mainly employee termination and severance plus facility abandonment, substantially completed by December 31, 2024.
Word for word“We engage in targeted restructuring initiatives in order to rationalize headcount and align our operations in a more strategic and cost-efficient structure.” 10-K for 2024
Our summaryRestructuring costs in 2024 were split between severance and facility abandonment.
Word for word“Costs incurred were related to employee termination and severance costs, as well as costs related to discontinuing product lines or closing down of locations.” 10-K for 2024
Our summaryRestructuring provision balance was reduced by reversals and utilization in 2024 after an additional provision was recorded.
Word for word“Balance at December 31, 2024 $ 1 Product Warranties Product warranty costs generally are accrued in proportion to product revenue realized in conjunction with our over time revenue recognition policy.” 10-K for 2024
Our summaryOther operating expenses were attributed to restructuring efforts in the ASC segment.
Word for word“The expense in both periods is attributed to restructuring efforts implemented in our ASC segment.” 10-K for 2024
Our summaryThe company ran targeted restructuring initiatives in its ASC segment to rationalize headcount and streamline operations, recording small charges in 2025, 2024 and 2023.
Word for word“In connection with these restructuring initiatives, we recorded charges totaling $ 2 million, $ 8 million and $ 11 million for the years ended December 31, 2025, 2024 and 2023, respectively.” 10-K for 2025
| Fiscal year ended | Restructuring charges |
|---|---|
| 2019-12-31 | $20 million |
| 2020-12-31 | $12 million |
| 2021-12-31 | $5 million |
| 2022-12-31 | $3 million |
| 2023-12-31 | $11 million |
| 2024-12-31 | $8 million |
| 2025-12-31 | $2 million |
Leonardo DRS 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 Leonardo DRS’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 2026-02-27. 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.