Remitly Global layoffs, on the record
Every job cut, severance charge and restructuring Remitly Global reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from over 2,700 to over 3,200.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | over 2,700 | December 31, 2023 |
| 10-K for 2024 | over 2,800 | December 31, 2024 |
| 10-K for 2025 | over 3,200 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryCompany began restructuring initiatives to simplify and scale processes, functions, and team capabilities; costs were primarily severance and other associated costs, substantially complete by year end.
Word for word“The Company incurred charges of $ 1.4 million for the year ended December 31, 2023.” 10-K for 2023
Our summaryThe company continued restructuring initiatives that began in 2023, mainly involving severance and other associated costs, to simplify and scale processes and functions; the initiatives are now complete.
Word for word“The Company incurred charges of $ 0.8 million and $ 1.4 million for the years ended December 31, 2024 and 2023, respectively.” 10-K for 2024
Our summaryThe company recorded restructuring costs in 2023 from initiatives that continued into 2024, including severance.
Word for word“Restructuring costs incurred primarily included severance and certain other associated costs.” 10-K for 2024
Our summaryThe company settled the remaining restructuring accrual, with all accrued restructuring liabilities paid out by year-end 2024.
Word for word“Balance as of December 31, 2024 $ — 14. Income Taxes The components of loss before provision for income taxes were as follows: Years Ended December 31, (in thousands) 2024 2023 2022 United States $ ( 42,708 ) $ ( 74,776 ) $ ( 116,272 ) Foreign 12,457 ( 37,162 ) 3,296 Loss before provision for income taxes $ ( 30,251 ) $ ( 111,938 ) $ ( 112,976 ) The components of the provision for income taxes were as follows: Years Ended December 31, (in thousands) 2024 2023 2022 Current tax benefit (expense) Federal $ ( 197 ) $ — $ — State ( 418 ) ( 376 ) ( 9 ) Foreign ( 5,562 ) ( 6,365 ) ( 2,449 ) Total current tax expense ( 6,177 ) ( 6,741 ) ( 2,458 ) Deferred tax benefit (expense) Federal — — — State — — — Foreign ( 550 ) 839 1,415 Total deferred tax benefit ( 550 ) 839 1,415 Provision for income taxes $ ( 6,727 ) $ ( 5,902 ) $ ( 1,043 ) 82 Table of Content s A reconciliation at the applicable federal statutory rate to the Company’s effective income tax rate were as follows: Years Ended December 31, 2024 2023 2022 Federal income taxes at statutory rate 21.00 % 21.00 % 21.00 % State income tax, net of federal benefit 9.36 8.71 4.06 Increase in valuation allowance ( 82.40 ) ( 59.69 ) ( 24.08 ) Stock-based compensation 7.15 16.70 0.92 U.S. tax on foreign earnings — — ( 2.03 ) Tax charges from integration of acquired companies — ( 6.57 ) — Research tax credits 40.46 14.98 — Effect of cross border tax laws ( 17.50 ) — — Other ( 0.31 ) ( 0.40 ) ( 0.79 ) Effective income tax rate ( 22.24 ) % ( 5.27 ) % ( 0.92 ) % As of December 31, 2024, the Company has U.S. net operating loss (“NOL”) carryforwards of $ 206.8 million, which substantially do not expire, and state NOL carryforwards of $ 177.6 million, which begin to expire between 2032 and 2044.” 10-K for 2024
Our summaryThe company recorded restructuring charges in 2024, included in acquisition, integration, restructuring, and other costs.
Word for word“Acquisition, integration, restructuring, and other costs for the year ended December 31, 2024 consisted primarily of $0.8 million in restructuring charges incurred, $0.5 million of non-recurring legal charges, and $0.2 million related to the change in the fair value of the holdback liability associated with the acquisition of Rewire.” 10-K for 2025
Our summaryThe company recorded restructuring charges in 2023, included in acquisition, integration, restructuring, and other costs.
Word for word“Acquisition, integration, restructuring, and other costs for the year ended December 31, 2023 consisted primarily of $1.7 million of expenses incurred in connection with the acquisition and integration of Rewire, $1.4 million in restructuring charges incurred, and $1.1 million related to the change in the fair value of the holdback liability associated with the acquisition of Rewire.” 10-K for 2025
Our summaryThe company reported non-recurring termination benefits as the main part of its 2025 acquisition, integration, restructuring, and other costs.
Word for word“(3) Acquisition, integration, restructuring, and other costs for the year ended December 31, 2025 consisted primarily of non-recurring termination benefits.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2022-12-31 | $0 | — |
| 2023-12-31 | $1.4 million | $1.3 million |
| 2024-12-31 | $792,000 | $870,000 |
Remitly Global 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 Remitly Global’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.