PPG Industries layoffs, on the record
Every job cut, severance charge and restructuring PPG Industries reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 53,000 to approximately 43,500.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 53,000 | during 2023 |
| 10-K for 2024 | approximately 46,000 | December 31, 2024 |
| 10-K for 2025 | approximately 43,500 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryPPG approved business restructuring actions during 2023 to reduce costs and improve the profitability of its business portfolio, and made progress on global restructuring programs announced in 2021 and 2022.
Word for word“We approved business restructuring actions to reduce costs and improve the profitability of our overall business portfolio during 2023, as well as made significant progress on the global restructuring programs that were announced in 2021 and 2022.” 10-K for 2023
Our summaryPPG reported business restructuring-related costs, net within its adjusted earnings reconciliation for 2023.
Word for word“Business restructuring-related costs, net (2) 43 9 20.9 % ` 34 0.14 Impairment and other related charges, net (3) 160 — — % 160 0.67 Portfolio optimization (4) 53 (7) (13.2 %) 58 0.24 Environmental remediation charges, net (5) 30 7 23.3 % 23 0.10 Argentina currency devaluation losses (6) 20 (4) (20.0 %) 24 0.10 Insurance recoveries (7) (16) (4) 25.0 % (12) (0.05) Pension settlement charge (8) 190 46 24.2 % 144 0.61 Adjusted, continuing operations, excluding certain items $2,389 $526 22.0 % $1,822 $7.67 ($ in millions, except percentages and per share amounts) Income Before Income Taxes Income Tax Expense Effective Tax Rate Net Income (attributable to PPG) Earnings per Diluted Share (1) Year-ended December 31, 2022 As reported, continuing operations $1,381 $325 23.5 % $1,028 $4.33 Includes: Acquisition-related amortization expense 166 40 24.1 % 126 0.53 Business restructuring-related costs, net (2) 75 19 25.3 % 56 0.24 Impairment and other related charges, net (3) 245 31 12.7 % 214 0.90 Portfolio optimization (4) 10 (2) (20.0 %) 12 0.05 Adjusted, continuing operations, excluding certain items $1,877 $413 22.0 % $1,436 $6.05 (1) Earnings per diluted share is calculated based on unrounded numbers."” 10-K for 2023
Our summaryPPG reported a net decrease in business restructuring expense within Other charges/(income), net, which was higher overall in 2023 than in 2022.
Word for word“Other charges/(income), net was higher in 2023 compared to the prior year primarily due to an increase in the non-service cost components of pension and other postretirement benefit expense, an increase in environmental remediation costs and foreign currency losses recognized in Argentina related to a central bank adjustment to official foreign currency rates, partially offset by a decrease in net business restructuring expense.” 10-K for 2023
Our summaryIn October 2024 the company approved a comprehensive cost reduction program focused on reducing structural costs mainly in Europe and other global businesses, and recorded a restructuring charge for employee severance and other cash costs.
Word for word“In connection with approval of this restructuring program, the Company recorded a pretax restructuring charge of $239 million, representing employee severance and other cash costs.” 10-K for 2024
Our summaryThe company approved a 2022 business restructuring plan to reduce its global cost structure, which generated a restructuring charge.
Word for word“In 2022, the Company approved a business restructuring plan which included actions to reduce its global cost structure in response to economic conditions, including softening demand in Europe and lower than expected demand recovery in China.” 10-K for 2024
Our summaryThe October 2024 cost reduction program is expected to deliver annualized pre-tax savings once fully implemented.
Word for word“In October 2024, the Company approved a comprehensive cost reduction program with anticipated annualized pre-tax savings of approximately $175 million once fully implemented, including savings of $60 million in 2025.” 10-K for 2024
Our summaryThe company reported expected annualized savings from the October 2024 cost reduction program, with part already realized in 2025 and more expected in 2026.
Word for word“In October 2024, the Company approved a comprehensive cost reduction program with anticipated annualized pre-tax savings of approximately $175 million once fully implemented.” 10-K for 2025
| Fiscal year ended | Severance costs | Restructuring charges | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|---|---|
| 2016-12-31 | $130 million | $191 million | — | $76 million |
| 2017-12-31 | — | $0 | — | $49 million |
| 2018-12-31 | — | $66 million | — | $66 million |
| 2019-12-31 | — | $176 million | — | $58 million |
| 2020-12-31 | — | $174 million | — | $126 million |
| 2021-12-31 | — | $31 million | — | $77 million |
| 2022-12-31 | — | $33 million | — | $85 million |
| 2023-12-31 | — | −$2 million | $33 million | $56 million |
| 2024-12-31 | — | $233 million | $239 million | $52 million |
| 2025-12-31 | — | $6 million | $39 million | $82 million |
PPG Industries filed 4 restructuring notices (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 PPG Industries’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.