ModivCare layoffs, on the record
Every job cut, severance charge and restructuring ModivCare reported in its annual reports, 2022 to 2024, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | approximately 20,000 | December 31, 2022 |
Job cuts, severance and restructuring
Our summaryThe filing mentions fewer one-time costs for restructuring and integration activities in 2023 compared to 2022, which contributed to a decrease in general and administrative expense.
Word for word“General and administrative expense. General and administrative expense for 2023 decreased $17.6 million, or 5.5%, compared to 2022, primarily related to fewer one-time costs for restructuring and integration activities.” 10-K for 2023
Our summaryThe company says it has recently reduced its workforce and that this and management turnover could disrupt its business.
Word for word“We have also recently experienced reductions in our workforce.” 10-K for 2024
| Fiscal year ended | Severance costs | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|---|
| 2016-12-31 | $8.5 million | — | $12 million |
| 2017-12-31 | $2.6 million | — | $4.9 million |
| 2019-12-31 | — | $13.1 million | — |
ModivCare 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 ModivCare’s annual reports (10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2025-03-06. 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.