Penguin Solutions layoffs, on the record
Every job cut, severance charge and restructuring Penguin Solutions reported in its annual reports, 2024 to 2026, quoted from the filings. Headcount went from approximately 2,700 to approximately 2,800.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2024 | approximately 2,700 | August 30, 2024 |
| 10-K for 2026 | approximately 2,800 | August 28, 2026 |
Job cuts, severance and restructuring
Our summaryRestructuring plans including workforce reductions and elimination of certain projects, with severance and benefit costs recorded as restructure charges.
Word for word“In 2024 and 2023, we initiated plans that included workforce reductions and the elimination of certain projects across our businesses.” 10-K for 2024
Our summaryRestructure charges in other operating expense covered employee severance and other benefits from workforce reductions, project eliminations, and wind down of the Penguin Edge business; the company expects more restructure charges.
Word for word“Other operating expense in 2024 and 2023 included restructure charges of $7.1 million and $7.0 million, respectively, primarily for employee severance costs and other benefits resulting from workforce reductions, the elimination of certain projects across our businesses and other costs associated with the wind down of our Penguin Edge business.” 10-K for 2024
Our summaryCost of sales-related restructure charges were recorded in the non-GAAP reconciliation.
Word for word“Cost of sales-related restructure 2,136 6,813 — Diligence, acquisition and integration expense 8,772 20,869 7,090 Impairment of goodwill — 19,092 — Change in fair value of contingent consideration — 29,000 41,324 Restructure charge 7,064 7,047 234 Other 1,558 1,800 624 Non-GAAP operating income $ 120,257 $ 179,794 $ 177,461 Non-GAAP operating income by segment: Advanced Computing $ 95,291 $ 110,975 $ 49,450 Integrated Memory 22,413 73,639 78,869 Optimized LED 2,553 (4,820) 49,142 Total non-GAAP operating income by segment $ 120,257 $ 179,794 $ 177,461 Advanced Computing operating income decreased by $15.7 million, or 14.1%, in 2024 compared to the prior year primarily due to lower sales from our Penguin Computing business, partially offset by lower operating expenses, mainly driven by personnel-related expenses due to lower headcount and lower subcontract services.” 10-K for 2024
Our summaryAs of August 30, 2024, a remaining unpaid balance of restructuring costs was expected to be paid in 2025; the company expects further restructure charges in future quarters.
Word for word“As of August 30, 2024, $ 0.8 million remained unpaid, which is expected to be paid in 2025.” 10-K for 2024
Our summaryRecorded restructuring charges primarily for employee severance and other benefits from workforce reductions tied to eliminating certain projects, plus wind-down costs of the Penguin Edge business.
Word for word“Other operating expense in 2025, 2024, and 2023 included restructuring charges of $2.1 million, $7.1 million, and $7.0 million , respectively, primarily for employee severance costs and other benefits resulting from workforce reductions, the elimination of certain projects across our businesses and other costs associated with the wind down of our Penguin Edge business.” 10-K for 2025
Our summaryRecorded restructuring charges for employee severance and other benefits from workforce reductions tied to project eliminations, and stated it expects additional restructuring charges in future quarters.
Word for word“We anticipate there will be additional restructuring activities in future quarters, for which we will record additional charges.” 10-K for 2025
Our summaryRecorded restructuring charges for employee severance and other benefits from workforce reductions in the prior year.
Word for word“In recent periods, we executed plans that included the elimination of certain projects across our businesses, which resulted in workforce reductions.” 10-K for 2025
Our summaryThe company recorded restructuring charges for fiscal 2026, 2025 and 2024, mainly severance and benefits from workforce reductions, project eliminations and the wind down of Penguin Edge, and expects more such charges.
Word for word“Other operating expense in 2026, 2025, and 2024 included restructuring charges of $11.2 million , $2.1 million, and $7.1 million , respectively, primarily for employee severance costs and other benefits resulting from workforce reductions, the elimination of certain projects across our businesses and other costs associated with the wind down of our Penguin Edge business.” 10-K for 2026
Our summaryThe company executed plans that eliminated certain projects and led to workforce reductions, and recorded restructuring charges mostly for severance and benefits.
Word for word“In connection therewith, we recorded restructuring charges of $ 11.2 million, $ 2.1 million and $ 7.1 million in 2026, 2025, and 2024, respectively, consisting primarily of employee severance costs and other benefits, reflected in Other Operating Expense in the Consolidated Statements of Operations.” 10-K for 2026
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-08-26 | $1.1 million | — |
| 2017-08-25 | $457,000 | — |
| 2020-08-28 | $3.5 million | — |
| 2023-08-25 | $7 million | — |
| 2024-08-30 | $7.1 million | $7.6 million |
| 2025-08-29 | $2.1 million | $1.9 million |
Penguin Solutions 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 Penguin Solutions’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 2026-10-20. 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.