Paychex layoffs, on the record
Every job cut, severance charge and restructuring Paychex reported in its annual reports, 2024 to 2026, quoted from the filings. Headcount went from approximately 16,500 to approximately 17,600.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2024 | approximately 16,500 | May 31, 2024 |
| 10-K for 2025 | approximately 19,000 | May 31, 2025 |
| 10-K for 2026 | approximately 17,600 | May 31, 2026 |
Job cuts, severance and restructuring
Our summaryCost optimization initiatives in the fourth quarter of fiscal 2024, including reductions to the geographic footprint, reprioritization of certain technology investments, and headcount optimization.
Word for word“Cost optimization initiatives taken during the fourth quarter of 2024, included reductions to our geographic footprint, reprioritization of certain technology investments, and headcount optimization.” 10-K for 2025
Our summaryAcquisition-related compensation costs for the Paycor integration, including replacement awards, severance, and retention and transaction bonuses.
Word for word“$70.8 million in compensation costs related to the acquisition and integration of Paycor, including replacement awards, severance, and retention and transaction bonuses, and $50.8 million in other acquisition-related costs, primarily reflecting professional service fees.” 10-K for 2025
Our summaryThe company recorded acquisition-related compensation costs for integrating Paycor, including replacement awards, severance, and retention bonuses.
Word for word“• $52.1 million for fiscal 2026 compared to $70.8 million for the prior year period, in compensation costs related to the acquisition and integration of Paycor, including replacement awards, severance and retention bonuses, and” 10-K for 2026
Paychex 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 Paychex’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 2026-07-17. 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.