Modine Manufacturing layoffs, on the record
Every job cut, severance charge and restructuring Modine Manufacturing reported in its annual reports, 2024 to 2026, quoted from the filings. Headcount went from approximately 11,400 to approximately 13,200.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2024 | approximately 11,400 | March 31, 2024 |
| 10-K for 2025 | approximately 11,300 | March 31, 2025 |
| 10-K for 2026 | approximately 13,200 | March 31, 2026 |
Job cuts, severance and restructuring
Our summaryCompany is working to close a technical service center in Germany to optimize global technical service capacity as part of restructuring.
Word for word“For example, we are currently working to close a technical service center in Germany to optimize the utilization of our global technical service capacity.” 10-K for 2024
Our summaryCompany recorded severance expenses in fiscal 2024, mainly in Performance Technologies, tied to the pending closure of a technical service center in Europe.
Word for word“During fiscal 2024, the Company recorded $ 12.9 million of severance expenses, of which $ 11.5 million were recorded in the Performance Technologies segment and primarily relate to the pending closure of a technical service center in Europe.” 10-K for 2024
Our summaryCompany recorded severance for targeted headcount reductions in Climate Solutions and Performance Technologies segments, plus equipment transfer costs in Europe and closure costs for a leased U.S. facility.
Word for word“During fiscal 2023, restructuring and repositioning expenses primarily consisted of severance-related expenses for targeted headcount reductions in each the Climate Solutions and Performance Technologies segments and supported the Company's objective of reducing operational and SG&A cost structures.” 10-K for 2024
Our summaryCompany committed to restructuring actions to reduce SG&A and operational expenses, with targeted headcount reductions in Europe and in Climate Solutions.
Word for word“During fiscal 2022, the Company recorded $ 22.1 million of severance expenses, of which $ 20.3 million were recorded in the Performance Technologies segment and primarily related to targeted headcount reductions in Europe .” 10-K for 2024
Our summaryCompany sold three automotive businesses based in Germany, which removed severance accrual balances.
Word for word“The Company sold three automotive businesses based in Germany during the third quarter of fiscal 2024.” 10-K for 2024
Our summaryRestructuring actions in fiscal 2025 included targeted headcount reductions and product line transfers to reduce SG&A and operational expenses, and the company closed a technical service center in Germany and signed an agreement to sell it.
Word for word“We closed a technical service center in Germany to optimize the utilization of our global technical service center capacity and have taken restructuring actions, including targeted headcount reductions and product line transfers, to reduce selling, general, and administrative ("SG&A") and operational expenses and to optimize the efficiency of our supply chain and manufacturing processes.” 10-K for 2025
Our summaryFiscal 2025 severance in Europe and North America within Performance Technologies, including targeted headcount reductions, plus severance in Climate Solutions tied to the pending closure of a production facility in Italy.
Word for word“During fiscal 2025, restructuring and repositioning expenses primarily consisted of severance expenses in Europe and North America within the Performance Technologies segment and included targeted headcount reductions intended to reduce SG&A and operational expenses.” 10-K for 2025
Our summaryThe company approved additional headcount reductions in the Performance Technologies segment and expects to record severance expenses in the first quarter of fiscal 2026.
Word for word“In May 2025, the Company approved additional headcount reductions in the Performance Technologies segment and, as a result, expects to record approximately $ 4.0 million of severance expenses during the first quarter of fiscal 2026.” 10-K for 2025
Our summaryPerformance Technologies restructuring expenses rose, mainly from higher severance in North America and product line transfer costs.
Word for word“Restructuring expenses during fiscal 2025 totaled $20 million, an increase of $8 million compared with the prior year, primarily due to higher severance expenses in North America and product line transfer costs.” 10-K for 2025
Our summaryClimate Solutions recorded higher severance and costs for transferring production and warehousing for certain product lines.
Word for word“Restructuring expenses increased $3 million in fiscal 2025, primarily due to higher severance expenses and costs related to transferring production and warehousing for certain product lines.” 10-K for 2025
Our summaryIn fiscal 2024 the company had severance in Performance Technologies tied to closing a European technical service center, and the company also incurred equipment transfer costs.
Word for word“During fiscal 2024, restructuring and repositioning expenses primarily consisted of severance expenses in the Performance Technologies segment related to the closure of its European technical service center.” 10-K for 2025
Our summaryFiscal 2023 restructuring consisted of severance for targeted headcount reductions in both Climate Solutions and Performance Technologies segments.
Word for word“During fiscal 2023, restructuring and repositioning expenses primarily consisted of severance expenses for targeted headcount reductions in both the Climate Solutions and Performance Technologies segments.” 10-K for 2025
Our summaryModine recorded fiscal 2026 restructuring and repositioning expenses, mostly severance in Europe and North America tied to targeted headcount reductions, plus moving production of some product lines among facilities.
Word for word“The severance charges were primarily recorded in Europe and North America and include severance related to targeted headcount reductions intended to reduce SG&A and operational expenses.” 10-K for 2026
Our summaryIn fiscal 2025 the Climate Solutions segment recorded severance mainly for closing a production facility in Italy.
Word for word“In addition, the Company recorded severance expenses in the Climate Solutions segment, primarily related to the closure of a production facility in Italy.” 10-K for 2026
Our summaryThe company modified some stock awards for a limited number of employees to accelerate vesting in connection with restructuring, adding stock compensation expense.
Word for word“During fiscal 2026 and 2025, in connection with restructuring actions, the Company modified certain stock-based awards for a limited number of employees to permit accelerated vesting, resulting in $ 2.1 million and $ 6.0 million, respectively, of incremental stock-based compensation expense.” 10-K for 2026
| Fiscal year ended | Severance costs | Restructuring charges | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|---|---|
| 2017-03-31 | $5.3 million | $10.9 million | $10.9 million | $12.9 million |
| 2018-03-31 | $13 million | $16 million | $16 million | $9.4 million |
| 2019-03-31 | $8.7 million | $9.6 million | $9.6 million | $9.1 million |
| 2020-03-31 | $10.2 million | $12.2 million | $12.2 million | $15.1 million |
| 2021-03-31 | $11.7 million | $13.4 million | $13.4 million | $10.5 million |
| 2022-03-31 | $22.1 million | $24.1 million | $24.1 million | $5.7 million |
| 2023-03-31 | $3.5 million | $5 million | — | $12.4 million |
| 2024-03-31 | $12.9 million | $15 million | — | $7.8 million |
| 2025-03-31 | $24.3 million | $28.2 million | — | $24.6 million |
| 2026-03-31 | $12.9 million | $20.6 million | — | $14 million |
Modine Manufacturing 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 Modine Manufacturing’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 2026-05-27. 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.