Matthews International layoffs, on the record
Every job cut, severance charge and restructuring Matthews International reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 12,000 to over 5,500.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 12,000 | October 31, 2023 |
| 10-K for 2024 | over 11,000 | October 31, 2024 |
| 10-K for 2025 | over 5,500 | As of October 31, 2025 |
Job cuts, severance and restructuring
Our summaryCompany recorded charges for exit and disposal activities, including severance and other employee termination benefits, within strategic initiatives and other charges in fiscal 2024.
Word for word“Strategic initiatives and other charges includes charges for exit and disposal activities (including severance and other employee termination benefits) totaling $45.7 million, $13.2 million and $14.6 million in fiscal years 2024, 2023 and 2022, respectively.” 10-K for 2024
Our summaryCompany reported accrued severance and other employee termination benefits, which rose sharply during fiscal 2024.
Word for word“Accrued severance and other employee termination benefits totaled $42.2 million and $7.3 million as of September 30, 2024 and 2023, respectively.” 10-K for 2024
Our summaryIn the fourth quarter of fiscal 2024 the company started restructuring programs aimed at its European engineering and tooling operations and its general and administrative functions, with most of the estimated cost for severance.
Word for word“Total estimated restructuring costs for these programs are currently expected to be approximately $ 42,000 , of which $ 39,500 relates to severance and employee termination benefits, and $ 2,500 relates to other exit and disposal activities.” 10-K for 2025
Our summaryThe company recorded exit and disposal charges, including severance and other employee termination benefits, in fiscal years 2025, 2024 and 2023.
Word for word“† Strategic initiatives and other charges includes charges for exit and disposal activities (including severance and other employee termination benefits) totaling $1.2 million, $45.7 million and $13.2 million in fiscal years 2025, 2024 and 2023, respectively.” 10-K for 2025
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2024-09-30 | $39.5 million | — | — |
| 2025-09-30 | — | −$375,000 | $35.9 million |
Matthews International 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 Matthews International’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 2025-11-21. 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.