Onto Innovation layoffs, on the record
Every job cut, severance charge and restructuring Onto Innovation reported in its annual reports, 2023 to 2026, quoted from the filings.
Job cuts, severance and restructuring
Our summaryThe company initiated a restructuring plan to streamline operations and align its cost structure with its 2023 business outlook, which included employee severance costs.
Word for word“The Company initiated a restructuring plan to streamline operations and align the Company’s cost structure with its business outlook for 2023.” 10-K for 2023
Our summaryThe company recorded restructuring charges for employee severance, which were all paid during the period.
Word for word“During the twelve months ended December 30, 2023, restructuring costs of $ 3,571 were recorded in operating expenses for employee severance and $ 7,027 were recorded in cost of goods sold for inventory write-downs primarily related to the exit of older product lines.” 10-K for 2023
Our summaryThe company recorded inventory write-downs in cost of goods sold tied to restructuring, mainly from exiting older product lines.
Word for word“All employee severance costs were paid during the twelve-month period.” 10-K for 2023
Our summaryThe company reported restructuring charges of $3.6 million for employee severance costs in the 2023 period.
Word for word“The year-over-year dollar increase from 2022 through 2023 was primarily due increased litigation expenses of $7.4 million, restructuring charges of $3.6 million for employee severance costs during the 2023 period, an increase in depreciation expense of $1.9 million and an increase in facilities expenses of $0.4 million.” 10-K for 2024
Our summaryThe company recorded total restructuring expenses of $23,077 thousand in fiscal 2024, including $14,068 thousand in cost of goods sold and $9,009 thousand in operating expenses.
Word for word“Year Ended December 28, 2024 December 30, 2023 December 31, 2022 (in thousands) Revenue $ 987,321 $ 815,868 $ 1,005,183 Less: Restructuring expenses (1) 23,077 10,599 — Merger and acquisitions related expenses (2) 7,652 2,607 5,761 Litigation expenses (3) 27 11,337 3,935 Cost of revenue (excluding 1 & 2) 457,855 388,429 465,883 Research and development (excluding 1 & 2) 109,572 103,656 105,648 Sales and marketing (excluding 1 & 2) 75,911 61,604 65,558 General and administrative (excluding 1, 2 & 3) 76,687 66,736 66,400 Amortization 49,437 54,822 55,284 Operating income 187,103 116,078 236,714 Interest income, net 33,489 20,356 5,011 Other expense, net ( 145 ) ( 3,852 ) ( 141 ) Provision for income taxes 18,777 11,423 18,250 Net income $ 201,670 $ 121,159 $ 223,334 The following table lists the different sources of revenue: Year Ended December 28, 2024 December 30, 2023 December 31, 2022 (in thousands, except for percentages) Systems and software $ 850,443 86 % $ 683,316 84 % $ 865,707 86 % Parts 76,584 8 % 74,604 9 % 84,266 8 % Services 60,294 6 % 57,948 7 % 55,210 6 % Total revenue $ 987,321 100 % $ 815,868 100 % $ 1,005,183 100 % The Company’s significant operations outside the United States include sales, service and application offices in Asia and Europe.” 10-K for 2024
Our summaryThe company approved restructuring plans that include workforce reductions to streamline operations and align its cost structure with its business outlook.
Word for word“From time to time, the Company approves restructuring plans, which include workforce reductions, to streamline operations and align the Company’s cost structure with its business outlook.” 10-K for 2024
Our summaryThe company reported restructuring and other operating expenses that rose in 2025 mainly from business transformation projects streamlining various operating activities.
Word for word“Restructuring and other expenses were $18.4 million, $9.0 million and $3.6 million in fiscal years 2025, 2024 and 2023, respectively.” 10-K for 2026
Our summaryThe company said the 2024 increase in restructuring expenses came mainly from higher employee severance costs and business transformation projects.
Word for word“The year-over-year increase from 2023 through 2024 was primarily due to an increase in employee severance costs and business transformation projects that includes the streamlining of various operating activities.” 10-K for 2026
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-12-31 | $0 | $256,000 |
Onto Innovation 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 Onto Innovation’s annual reports (10-K for 2026, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-24. 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.