RideNow Group layoffs, on the record
Every job cut, severance charge and restructuring RideNow Group reported in its annual reports, 2023 to 2025, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 2,357 full time and 55 part-time employees | December 31, 2023 |
| 10-K for 2024 | 1,928 full-time and 36 part-time employees | December 31, 2024 |
| 10-K for 2025 | 1,884 full-time and 22 part-time employees | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryThe company announced cost savings initiatives including an organizational restructuring and a reduction in headcount.
Word for word“In addition, we implemented a series of plans to reduce our outstanding debt and announced several cost savings initiatives, including an organizational restructuring and reduction in headcount.” 10-K for 2023
Our summaryThe company identified SG&A expense reductions, driven in part by headcount reductions that occurred in 2023, with full effects expected in 2024.
Word for word“During 2023, the Company identified a total of $60 million annualized SG&A expense reductions that were partially implemented throughout 2023.” 10-K for 2023
Our summaryThe company recorded personnel restructuring costs within compensation and related costs in 2023.
Word for word“Compensation and related costs in 2023 includes some of the benefits from our identified cost savings initiatives that were offset partially by $5.3 million of personnel restructuring costs and $5.1 million of costs related to a proxy contest and reorganization of our board of directors.” 10-K for 2023
Our summaryThe company reported a cut in its total employee count during 2024 compared with 2023, tied in part to cost savings initiatives, some implemented in late 2023.
Word for word“Our total employee count at the end of 2024 was down 18.2% from the end of 2023, which also included cost savings initiatives, some of which were implemented in the latter part of 2023.” 10-K for 2024
Our summaryFormer CEO Marshall Chesrown's severance and COBRA benefits were to be paid over 12 months under his Employment Agreement, while his performance stock options were forfeited.
Word for word“The performance stock options previously granted to Mr. Kennedy were forfeited, but severance payments and COBRA benefits will be paid over 12 months to Mr. Kennedy in accordance with his Employment Agreement.” 10-K for 2024
Our summaryThe company closed or sold five underperforming dealership locations during 2025 and said it may take similar actions in the future.
Word for word“We closed or sold five underperforming dealership locations in 2025 and may take similar actions in the future.” 10-K for 2025
Our summaryThe company stopped operating its transportation brokerage services business and may still incur cessation and transition costs, including severance.
Word for word“In December 2025, we ceased operating our transportation brokerage services business.” 10-K for 2025
RideNow Group 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 RideNow Group’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 2026-03-13. 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.