PROG Holdings layoffs, on the record
Every job cut, severance charge and restructuring PROG Holdings reported in its annual reports, 2023 to 2025, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 1,420 for Progressive Leasing, 167 for Vive, and 19 for Four and Other | December 31, 2023 |
| 10-K for 2024 | 1,261 for Progressive Leasing, 124 for Vive, and 18 for Four and Other | As of December 31, 2024 |
| 10-K for 2025 | 1,151 for Progressive Leasing, 15 for Four, and 69 for Other | As of December 31, 2025 |
Job cuts, severance and restructuring
Our summaryCompany announced continuation of cost reduction initiatives, including a reduction in Progressive Leasing's workforce.
Word for word“On January 25, 2024, the Company announced the continuation of cost reduction initiatives, which included a reduction in Progressive Leasing's workforce.” 10-K for 2023
Our summaryCompany announced cost reduction initiatives including termination of independent sales agent agreements, workforce reduction, and office space reduction and consolidation.
Word for word“For example, on January 25, 2024, we announced the continuation of such cost reduction initiatives, including a termination of certain independent sales agent agreements, a reduction in our workforce and office space reduction and consolidation.” 10-K for 2023
Our summaryCompany recorded restructuring expense in 2023 including employee severance within Progressive Leasing.
Word for word“In 2023, restructuring costs included $9.6 million associated with the early termination of certain independent sales agent agreements and $2.9 million of employee severance within Progressive Leasing.” 10-K for 2023
Our summaryCompany recorded restructuring severance within Progressive Leasing in 2022 as part of restructuring activities that reduced its workforce.
Word for word“In 2022, restructuring costs included $5.6 million of employee severance within Progressive Leasing, $3.3 million of operating lease right-of-use asset and other fixed asset impairment charges related to the relocation of the Vive corporate headquarters and a reduction of Progressive Leasing management and information technology office space, and $0.1 million of other restructuring expenses.” 10-K for 2023
Our summaryCompany expects to incur restructuring charges from January 2024 actions, including a reduction in Progressive Leasing's workforce.
Word for word“In connection with these actions, the Company estimates that it will incur approximately $ 18 to $ 21 million of restructuring charges, substantially all of which are expected to be incurred by the end of the first quarter of 2024.” 10-K for 2023
Our summaryAnnounced continuation of prior cost reduction initiatives, including a reduction in workforce and office space consolidation.
Word for word“For example, in January 2024, we announced the continuation of our prior cost reduction initiatives, including a termination of certain independent sales agent agreements, a reduction in our workforce and office space reduction and consolidation.” 10-K for 2024
Our summaryAnnounced restructuring actions including reduction and consolidation of office space in Utah and Arizona, and reduced Utah office space by 50% and vacated Arizona office space.
Word for word“On January 25, 2024, the Company announced that it had taken several restructuring actions, including the reduction and consolidation of its office space in Utah and Arizona.” 10-K for 2024
Our summaryProgressive Leasing personnel costs decreased due to reduction in number of employees during second half of 2023 and first quarter of 2024 under its restructuring initiatives.
Word for word“The $14.7 million decrease in personnel costs was due to a decrease of $13.3 million at Progressive Leasing attributable to its reduction in the number of employees during the second half of 2023 and first quarter of 2024 as part of its restructuring and cost cutting initiatives.” 10-K for 2024
Our summaryRecorded 2024 restructuring expenses including early termination costs, right-of-use and fixed asset impairments, and employee severance across Progressive Leasing, Vive and Other.
Word for word“In 2024, restructuring expense included $7.8 million associated with the early termination of an independent sales agent agreement for Progressive Leasing, $2.0 million associated with the early termination of a third party vendor agreement within other strategic operations, $6.0 million of operating lease right-of-use asset and other fixed asset impairment charges related to 40 the reduction of Progressive Leasing office space, and $6.8 million of employee severance for Progressive Leasing, Vive, and Other operations.” 10-K for 2024
Our summaryRecorded 2023 restructuring expenses for early termination of sales agent agreements and employee severance within Progressive Leasing.
Word for word“In 2023, restructuring expense included $9.6 million associated with the early termination of certain independent sales agent agreements and $2.9 million of employee severance within Progressive Leasing.” 10-K for 2024
Our summaryCompany stated it may undertake additional cost reduction steps, including a further reduction of its workforce.
Word for word“We may also be required to undertake additional cost reduction steps, including a further reduction of our workforce, which could also be 23 disruptive to our businesses and potentially lower the anticipated benefits with respect to our future performance, including with respect to GMV and revenue.” 10-K for 2024
Our summaryCumulative restructuring expenses since 2022 inception, primarily early contract termination costs, employee severance and impairments, with severance and other costs reported in the restructuring note.
Word for word“The Company continued such activities during 2023 and 2024 and recorded restructuring expenses of $ 22.7 million, $ 12.5 million and $ 9.0 million for the years ended December 31, 2024, 2023 and 2022, respectively, resulting in aggregate expenses of $ 44.2 million since the inception of the restructuring activities in 2022.” 10-K for 2024
Our summaryThe company recorded severance and other employee-related exit costs after terminating certain Vive employees during the disposal and wind-down of Vive's operations.
Word for word“Severance and other employee-related exit costs of approximately $ 1.9 million were recognized in accordance with ASC 420-10, "Exit or Disposal Cost Obligations," when the termination plan was communicated and the costs were probable and reasonably estimable.” 10-K for 2025
Our summaryThe company has run restructuring activities since 2022 to cut expenses and has recorded restructuring expenses each year through 2025.
Word for word“The Company continued such activities during 2023, 2024 and 2025 and recorded restructuring expenses of $ 2.8 million, $ 20.8 million, and $ 12.5 million for the years ended December 31, 2025, 2024, and 2023, respectively, resulting in aggregate expenses of $ 44.5 million since the inception of the restructuring activities in 2022.” 10-K for 2025
Our summaryIn January 2024 the company announced restructuring actions that cut and consolidated its office space in Utah and Arizona.
Word for word“1 On January 25, 2024, the Company announced that it had taken several restructuring actions, including the reduction and consolidation of its office space in Utah and Arizona.” 10-K for 2025
Our summaryProgressive Leasing cut its workforce in the second half of 2023 and first quarter of 2024 as part of restructuring, which lowered personnel costs.
Word for word“The $13.3 million decrease in personnel costs was attributable to Progressive Leasing's reduction in the number of employees during the second half of 2023 and first quarter of 2024 as part of its restructuring and cost cutting initiatives.” 10-K for 2025
Our summaryIn 2025 restructuring expense included employee severance at Progressive Leasing and an impairment of internally developed software.
Word for word“In 2025, restructuring expense included $2.2 million for the impairment of internally developed software from our other strategic operations along with $0.6 million relating to employee severance expenses at Progressive Leasing.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2022-12-31 | $5.7 million | $2.6 million |
| 2023-12-31 | $12.5 million | $10.5 million |
| 2024-12-31 | $14.8 million | $17.9 million |
| 2025-12-31 | $589,000 | $885,000 |
PROG Holdings 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 PROG Holdings’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 2026-02-18. 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.