Paccar layoffs, on the record
Every job cut, severance charge and restructuring Paccar reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 32,400 to approximately 25,900.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 32,400 | December 31, 2023 |
| 10-K for 2024 | approximately 30,100 | December 31, 2024 |
| 10-K for 2025 | approximately 25,900 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryThe company recorded severance expense in 2023, 2022 and 2021, with the 2023 amount shown as $.6 (millions).
Word for word“The Company incurred severance expense in 2023, 2022 and 2021 of $ .6 , $ .6 and $ 2.6 , respectively.” 10-K for 2023
Our summaryThe company recorded severance expense in 2024 that was much higher than in the prior two years.
Word for word“The Company incurred severance expense in 2024, 2023 and 2022 of $ 13.5 , $ .6 and $ .6 , respectively.” 10-K for 2024
Our summaryThe company recorded severance expense in 2025, higher than in 2024 and 2023.
Word for word“The Company incurred severance expense in 2025, 2024 and 2023 of $ 31.3 , $ 13.5 and $ .6 , respectively.” 10-K for 2025
| Fiscal year ended | Severance costs |
|---|---|
| 2016-12-31 | $2 million |
| 2017-12-31 | $800,000 |
| 2018-12-31 | $700,000 |
| 2019-12-31 | $5.8 million |
| 2020-12-31 | $6.1 million |
| 2021-12-31 | $2.6 million |
| 2022-12-31 | $600,000 |
| 2023-12-31 | $600,000 |
| 2024-12-31 | $13.5 million |
| 2025-12-31 | $31.3 million |
Paccar 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 Paccar’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 2026-02-18. 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.