PTC layoffs, on the record
Every job cut, severance charge and restructuring PTC reported in its annual reports, 2023 to 2025, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 7,231 | September 30, 2023 |
| 10-K for 2024 | 7,501 | September 30, 2024 |
| 10-K for 2025 | 7,642 full-time employees | September 30, 2025 |
Job cuts, severance and restructuring
Our summaryPTC's 2022 restructuring plan to restructure its workforce and consolidate select facilities, which was substantially completed in FY'22, produced restructuring and other charges in 2022.
Word for word“These charges substantially relate to a plan to restructure our workforce and consolidate select facilities to align our customer facing and product-related functions with SaaS industry best practices and accelerate the opportunity for our on-premises customers to move to the cloud.” 10-K for 2023
Our summaryPTC made cash payments for 2022 restructuring charges, including employee-related payments.
Word for word“We made cash payments related to restructuring charges of $ 40.8 million ($ 34.0 million related to employee charges, $ 2.5 million in payments for other professional fees, and $ 4.3 million in net payments for variable costs related to restructured facilities).” 10-K for 2023
Our summaryPTC recorded restructuring and other charges in 2021 that were mostly restructuring charges from its 2020 restructuring.
Word for word“In 2021, Restructuring and other charges (credits), net totaled $ 2.2 million, of which $ 2.1 million was attributable to restructuring charges and $ 0.1 million was attributable to impairment and accretion expense related to exited lease facilities.” 10-K for 2023
Our summaryPTC reported restructuring and other charges credits in 2023 that were immaterial.
Word for word“In 2023, Restructuring and other charges (credits), net and related payments were immaterial.” 10-K for 2023
Our summaryRestructuring charges in 2022 totaled $36.2 million, mostly for employee termination benefits, tied to a plan to restructure the workforce and consolidate facilities for the SaaS transformation.
Word for word“In 2022, Restructuring and other charges (credits), net totaled $ 36.2 million, of which $ 32.4 million is attributable to restructuring charges primarily related to employee termination benefits , $ 5.1 million is attributable to other charges for professional fees included in restructuring related to our SaaS transformation, offset by a $ 1.3 million credit attributable to sublease income and the reversal of lease liabilities related to exited lease facilities.” 10-K for 2024
Our summaryRestructuring and other charges (credits) in 2024 and 2023 were immaterial, with restructuring accruals immaterial at year end.
Word for word“Restructuring and other charges (credits), net and related payments were immaterial in 2024 and 2023 and the balances of restructuring accruals were immaterial as of September 30, 2024 and 2023.” 10-K for 2024
Our summaryPTC realigned its go-to-market organization in fiscal 2025, which raised severance costs by $17 million, mostly recorded in Sales and marketing.
Word for word“Operating expenses in FY'25 compared to FY'24 increased primarily due to the following: • a $19 million (2%) increase in total compensation expense (including stock-based compensation), driven by a $17 million increase in severance costs primarily related to our go-to-market realignment (which is mainly included in Sales and marketing) and headcount growth, offset by lower compensation charges in General and administrative due to our FY'24 chief executive officer succession; • $16 million impairment charges recognized in Q2'25 and Q4'25 related to the lease assets associated with the subleased portion of our Boston office; and • a $6 million increase in acquisition and transaction-related costs.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-09-30 | $76.3 million | $55 million |
| 2017-09-30 | $7.9 million | $37.1 million |
| 2018-09-30 | −$1 million | $2.8 million |
| 2019-09-30 | $48.6 million | $24.7 million |
| 2020-09-30 | $26.4 million | $31.5 million |
| 2021-09-30 | $2.1 million | $6.7 million |
| 2022-09-30 | $32.4 million | $40.8 million |
| 2023-09-30 | −$424,000 | $425,000 |
PTC 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 PTC’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 2025-11-21. 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.