Magnera layoffs, on the record
Every job cut, severance charge and restructuring Magnera reported in its annual reports, 2022 to 2025, quoted from the filings. Headcount went from approximately 3,250 to approximately 8,500.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | approximately 3,250 | December 31, 2022 |
| 10-K for 2023 | 2,920 | December 31, 2023 |
| 10-K for 2025 | approximately 8,500 | — |
Job cuts, severance and restructuring
Our summaryAnnounced restructuring actions in the Composite Fibers segment, consolidating the metallizing operation from Gernsbach, Germany to Caerphilly, U.K.
Word for word“In the first quarter of 2020, we announced restructuring actions within the Composite Fibers operating segment.” 10-K for 2022
Our summaryRecorded severance and benefit continuation costs as part of the 2020 restructuring; as of December 31, 2022 no accrued and unpaid restructuring charge remained.
Word for word“As of December 31, 2022, there was no accrued and unpaid restructuring charge.” 10-K for 2022
Our summaryReported cash severance and transition costs tied to the transition from the former CEO to the current CEO, partly offset by a non-cash benefit from forfeited stock awards.
Word for word“(5) Primarily reflects cash severance and transition related costs of $4.8 million partially offset by a $3.1 million non-cash benefit related to the forfeiture of stock-based compensation awards.” 10-K for 2022
Our summaryReported a corporate headquarters relocation and other significant actions, including cost optimization and restructuring and consolidation of the metallized business, among 2022 adjustments.
Word for word“The reported results are in accordance with generally accepted accounting principles in the United States (“GAAP”) and reflect a number of significant actions we undertook, including strategic initiatives, corporate headquarters relocation, cost optimization and the restructuring and consolidation of our metallized business, among others.” 10-K for 2022
Our summaryAdjusted EBITDA excludes certain cost optimization and restructuring activities, though no amounts for them are given in this excerpt.
Word for word“The adjustments include, among others, the costs of strategic initiatives, turnaround strategy costs, costs associated with the Ober-Schmitten divestiture, debt refinancing costs, CEO transition costs, certain cost optimization and restructuring activities, certain COVID-19 ERC recovery, corporate headquarters relocation expenses, asset impairment charge, and share-based compensation expense, as well as the elimination of gains from sales of timberlands.” 10-K for 2023
Our summaryThe effective tax rate for 2021 was unfavorably affected by restructuring and other non-recurring costs for which no tax benefit was recorded.
Word for word“The effective income tax rate for the year ended December 31, 2021 was unfavorably impacted by operating losses in the U.S., restructuring and other non-recurring costs for which no tax benefit was recorded.” 10-K for 2023
Our summaryThe company announced cost savings initiatives, including plant rationalizations in all segments, under the Project CORE restructuring plan, to be carried out over about two years.
Word for word“In the current fiscal year, the Company announced cost savings initiatives including plant rationalizations in all segments as part of the Project CORE restructuring plan.” 10-K for 2025
Our summaryThe company reported cumulative restructuring program costs since 2023.
Word for word“Since 2023, cumulative costs attributed to restructuring programs total $ 63 million.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|---|
| 2020-12-31 | — | $1 million | — |
| 2021-12-31 | — | $300,000 | — |
| 2022-12-31 | — | $0 | — |
| 2023-09-30 | $24 million | — | $28 million |
| 2024-09-28 | $30 million | — | $19 million |
| 2025-09-27 | $89 million | — | $77 million |
Magnera filed 3 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 Magnera’s annual reports (10-K for 2025, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2025-11-25. 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.