Public Storage layoffs, on the record
Every job cut, severance charge and restructuring Public Storage reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 6,200 to approximately 5,770.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 6,200 | — |
| 10-K for 2024 | approximately 5,900 | — |
| 10-K for 2025 | approximately 5,770 | — |
Job cuts, severance and restructuring
Our summaryThe company is carrying out a corporate transformation restructuring plan and expects to spend about $15 to $20 million on it over three years.
Word for word“We expect to incur corporate transformation costs of approximately $15 to $20 million as we complete the initiative over the next three years.” 10-K for 2025
Our summaryThe company expects the restructuring plan to save about $3 to $5 million a year starting in 2026.
Word for word“Beginning in 2026, we believe this restructuring plan will result in future cost savings of approximately $3 to $5 million annually, although the amount and timing of such savings are subject to change depending on a variety of factors.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2025-12-31 | $4.9 million | $3.9 million |
Public Storage 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 Public Storage’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 2026-02-12. 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.