Pagaya Technologies layoffs, on the record
Every job cut, severance charge and restructuring Pagaya Technologies reported in its annual reports, 2023 to 2025, quoted from the filings.
Job cuts, severance and restructuring
Our summaryAnnounced a reduction in workforce of about 20% of employees across its Israel and U.S. offices.
Word for word“On January 18, 2023, we announced a reduction in workforce of approximately 20% of employees across our Israel and U.S. offices, as compared to our headcount as of December 31, 2022.” 10-K for 2023
Our summaryRecorded a severance-related charge for one-time separation payments tied to the 2023 workforce reductions.
Word for word“We incurred a severance-related charge of approximately $3.8 million, consisting primarily of one-time separation payments, in the first and second quarters of 2023.” 10-K for 2023
Our summaryCarried out a substantially smaller workforce reduction in May 2023, alongside the January reduction.
Word for word“Combined with a substantially smaller reduction in workforce in May 2023, we were able to achieve an approximately $30 million of annualized cost savings.” 10-K for 2023
Our summaryReported restructuring expenses within the non-GAAP reconciliation for 2023.
Word for word“Restructuring expenses 5,450 — — Transaction-related expenses 6,153 — — Non-recurring expenses 6,175 27,011 7,606 Adjusted Net Income (Loss) $ 16,556 $ (32,664) $ 37,259 Adjusted to exclude the following: Interest expenses 30,740 5,136 — Income tax expense (benefit) 15,571 16,400 7,875 Depreciation and amortization 19,155 6,294 815 Adjusted EBITDA $ 82,022 $ (4,834) $ 45,949 Liquidity and Capital Resources As of December 31, 2023 and December 31, 2022, the principal sources of liquidity were cash, cash equivalents and restricted cash of $222.5 million and $337.1 million, respectively.” 10-K for 2023
Our summaryRecorded a severance-related charge consisting primarily of one-time separation payments tied to the workforce reduction.
Word for word“We incurred a severance-related charge of approximately $3.1 million, consisting primarily of one-time separation payments, in the first and second quarters of 2024.” 10-K for 2024
Our summaryReduced headcount by over 20% across Israel and U.S. offices to streamline operations and cut costs.
Word for word“During the first and second quarters of 2024, we reduced our headcount by over 20% across our Israel and U.S. offices.” 10-K for 2024
Our summaryReported restructuring expenses excluded from adjusted net income and adjusted EBITDA.
Word for word“Restructuring expenses 3,583 5,450 — Transaction-related expenses 2,095 6,153 — Non-recurring expenses 5,717 6,175 27,011 Adjusted Net Income (Loss) $ 66,866 $ 16,556 $ (32,664) Adjusted to exclude the following: Interest expenses 90,183 30,740 5,136 Income tax expense 24,576 15,571 16,400 Depreciation and amortization 28,753 19,155 6,294 Adjusted EBITDA $ 210,378 $ 82,022 $ (4,834) Liquidity and Capital Resources As of December 31, 2024 and December 31, 2023, the principal sources of liquidity were cash, cash equivalents and restricted cash of $226.5 million and $222.5 million, respectively.” 10-K for 2024
Our summaryReported severance-related expenses under Israeli Section 14 arrangements for 2024, 2023 and 2022.
Word for word“For the year ended December 31, 2024, 2023 and 2022, the Company incurred severance related expenses of $ 3.1 million, $ 3.1 million and $ 1.0 million, respectively.” 10-K for 2024
| Fiscal year ended | Severance costs |
|---|---|
| 2021-12-31 | $0 |
| 2022-12-31 | $1 million |
| 2023-12-31 | $3.1 million |
| 2024-12-31 | $3.1 million |
| 2025-12-31 | $3 million |
Pagaya Technologies 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 Pagaya Technologies’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 2026-03-02. 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.