Pitney Bowes layoffs, on the record
Every job cut, severance charge and restructuring Pitney Bowes reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 10,500 to approximately 6,600.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 10,500 | — |
| 10-K for 2024 | approximately 7,200 | — |
| 10-K for 2025 | approximately 6,600 | — |
Job cuts, severance and restructuring
Our summaryApproved a worldwide restructuring plan (the 2023 Plan) designed to improve profitability and cash flow.
Word for word“Total charges are expected to be $ 60 million-$ 70 million and we expect to substantially complete these actions by the end of the first half of 2024.” 10-K for 2023
Our summaryRecorded restructuring charges in 2023 under the 2023 Plan and prior plan, including employee severance of $52.4 million and facilities and other costs.
Word for word“Components of restructuring expense were as follows: Year Ended December 31, 2023 Year Ended December 31, 2022 2023 Plan Prior Plan Total Prior Plan Severance $ 49,325 $ 3,057 $ 52,382 $ 14,750 Facilities and other 8,661 542 9,203 3,965 Total $ 57,986 $ 3,599 $ 61,585 $ 18,715 67 PITNEY BOWES INC.” 10-K for 2023
Our summaryExpects annualized cost savings from the worldwide restructuring program by the end of 2024.
Word for word“We continue to make progress on our worldwide restructuring program and expect to realize annualized cost savings of $75-$85 million by the end of 2024, a portion of which was realized in 2023.” 10-K for 2023
Our summaryCompany approved a worldwide cost reduction initiative (2024 Plan) that eliminated positions, expected to be complete by end of first half of 2025.
Word for word“During the second quarter of 2024, we approved a worldwide cost reduction initiative (the "2024 Plan") to realize cost reductions and improve efficiencies.” 10-K for 2024
Our summaryCompany completed its 2023 Plan restructuring, which eliminated positions and recognized cumulative charges.
Word for word“Under this plan, we eliminated 1,049 positions and recognized cumulative charges of $ 69 million.” 10-K for 2024
Our summaryCompany recorded restructuring charges from 2024 Plan and 2023 Plan, primarily severance, in continuing operations.
Word for word“Year Ended December 31, 2024 2024 Plan 2023 Plan Total Severance $ 65,958 $ 9,398 $ 75,356 Facilities and other 336 1,223 1,559 Total $ 66,294 $ 10,621 $ 76,915 Year Ended December 31, 2023 2023 Plan Prior Plan Total Severance $ 40,152 $ 3,057 $ 43,209 Facilities and other 8,661 542 9,203 Total $ 48,813 $ 3,599 $ 52,412 Year Ended December 31, 2022 Prior Plan Severance $ 13,765 Facilities and other 3,443 Total $ 17,208” 10-K for 2024
Our summaryCompany's Ecommerce Restructuring involved an orderly wind-down of most of the Global Ecommerce segment, with associated charges and headcount reductions described as salary savings from headcount reductions.
Word for word“Other expense (income) increased $92 million due to $67 million of charges related to the Ecommerce Restructuring, a $14 million increase in debt redemption/refinancing costs and a $10 million asset impairment charge.” 10-K for 2024
Our summaryCompany offered a targeted lump sum settlement campaign to vested pension participants, producing a settlement charge.
Word for word“Other components of net pension and postretirement cost increased $97 million compared to the prior year, and includes a settlement charge of $91 million from a targeted campaign to offer lump sum settlements to vested participants.” 10-K for 2024
Our summaryThe company approved a voluntary early retirement program in the U.S. and a global involuntary restructuring, together called the 2025 Plan, in the second half of 2025.
Word for word“During the second half of 2025, we approved a voluntary, early retirement initiative in the U.S. and a globally targeted, involuntary restructuring initiative (together, the “2025 Plan”).” 10-K for 2025
Our summaryUnder the 2025 Plan the company expects to cut 300 to 400 positions at a total charge of $35 million to $45 million.
Word for word“Under the 2025 Plan, we expect to eliminate 300 - 400 positions and incur total charges of $ 35 million-$ 45 million.” 10-K for 2025
Our summaryDuring 2025 the company eliminated about 360 positions under the 2025 Plan and recorded a $36 million charge.
Word for word“During 2025, we eliminated approximately 360 positions and incurred charges of $ 36 million.” 10-K for 2025
Our summaryThe company decided to close its Stamford, Connecticut corporate office and recorded an abandonment charge.
Word for word“Additionally, in the fourth quarter of 2025, we made the decision to close our corporate office in Stamford, Connecticut effective December 31, 2025.” 10-K for 2025
Our summaryThe company finished its 2024 restructuring plan, which removed about 3,200 positions at a cumulative cost of $89 million.
Word for word“Under this plan, we eliminated approximately 3,200 positions and incurred cumulative charges of $ 89 million.” 10-K for 2025
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2016-12-31 | $2 million | $46.2 million | $62.1 million |
| 2017-12-31 | — | $52.7 million | $26.1 million |
| 2018-12-31 | — | $24.5 million | $52.7 million |
| 2019-12-31 | — | $23.7 million | $27.1 million |
| 2020-12-31 | — | $20.7 million | $20 million |
| 2021-12-31 | — | $19 million | $22 million |
| 2022-12-31 | — | $17.2 million | $15.4 million |
| 2023-12-31 | $43.2 million | $52.4 million | $34.4 million |
| 2024-12-31 | $75.4 million | $76.9 million | $86 million |
| 2025-12-31 | — | $58.4 million | $41.3 million |
Pitney Bowes filed 1 restructuring notice (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Pitney Bowes’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 2026-02-19. 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.