Spirit AeroSystems Holdings layoffs, on the record
Every job cut, severance charge and restructuring Spirit AeroSystems Holdings reported in its annual reports, 2022 to 2024, quoted from the filings. Headcount went from approximately 18,235 to approximately 20,370.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | approximately 18,235 | At December 31, 2022 |
| 10-K for 2023 | approximately 20,655 | At December 31, 2023 |
| 10-K for 2024 | approximately 20,370 | December 31, 2024 |
Job cuts, severance and restructuring
Our summaryThe company reported restructuring costs of $0.2 million for 2022, down from $8.2 million in 2021.
Word for word“Restructuring cost 0.2 8.2 73.0 Research and development 50.4 53.3 38.8 Loss on disposal of assets — — 22.9 Operating loss (281.2) (459.2) (812.8) Interest expense and financing fee amortization (244.1) (242.6) (195.3) Other (expense) income, net (14.1) 146.6 (77.8) Loss before income taxes and equity in net (loss) income of affiliates (539.4) (555.2) (1,085.9) Income tax (provision) benefit (5.2) 17.2 220.2 Loss before equity in net (loss) income of affiliates (544.6) (538.0) (865.7) Equity in net loss of affiliates (1.6) (2.8) (4.6) Net loss $ (546.2) $ (540.8) $ (870.3) Less Noncontrolling interest in earnings of subsidiary 0.5 — — Net loss attributable to common shareholders $ (545.7) $ (540.8) $ (870.3) _______________________________________ (1) See “Twelve Months Ended December 31, 2022 as Compared to Twelve Months Ended December 31, 2021” for detailed discussion of operating data.” 10-K for 2022
Our summaryRestructuring costs for 2022 were lower than 2021 because the prior year had higher cost-alignment and headcount reduction activity.
Word for word“Restructuring costs were $8.0 million lower for the twelve months ended December 31, 2022, compared to the same period in the prior year.” 10-K for 2022
Our summaryIn 2021 the company recorded restructuring costs largely tied to closing its McAlester and San Antonio sites.
Word for word“The total restructuring costs of $8.2 million in 2021 largely include costs related to the McAlester and San Antonio site closures.” 10-K for 2022
Our summaryIn 2020 the company recorded restructuring costs, which included higher cost-alignment and headcount reduction activity than in 2021.
Word for word“Restructuring costs were $64.8 million lower for the twelve months ended December 31, 2021, compared to the same period in the prior year.” 10-K for 2022
Our summaryOffered a Voluntary Separation Program to reduce indirect headcount and structural costs, paying lump sum severance based on years of service.
Word for word“The Company's results of operations for twelve months ended December 31, 2023 include restructuring costs related to the Voluntary Separation Program ( “ VSP ” ) that was offered to reduce structural costs by reducing indirect headcount.” 10-K for 2023
Our summaryRecorded restructuring costs tied to actions to align costs to reduced customer production levels in 2022 and 2021, including headcount reduction activity and site closures.
Word for word“Total restructuring costs were $ 7.2 and $ 0.2 for the twelve months ended December 31, 2023 and December 31, 2022, respectively.” 10-K for 2023
Our summaryThe company announced a 21-day furlough for employees on the B767 and B777 programs because of the Boeing strike and full storage capacity.
Word for word“On October 18, 2024, we announced a 21-day furlough, effective October 27, 2024, for approximately 700 employees working on the B767 and B777 programs in response to the strike by 29 Table of Contents Boeing employees, as the Company had reached maximum storage capacity on the B767 and B777 programs.” 10-K for 2024
Our summaryThe company recorded restructuring costs in 2024 for cutting its hourly production workforce because of high inventory levels.
Word for word“The Company’s results of operations for twelve months ended December 31, 2024 include restructuring costs related to a reduction in hourly production workforce due to high inventory levels.” 10-K for 2024
| Fiscal year ended | Restructuring charges |
|---|---|
| 2018-12-31 | $0 |
| 2019-12-31 | $0 |
| 2020-12-31 | $73 million |
| 2021-12-31 | $8.2 million |
| 2022-12-31 | $200,000 |
| 2023-12-31 | $7.2 million |
| 2024-12-31 | $700,000 |
Spirit AeroSystems Holdings 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 Spirit AeroSystems Holdings’s annual reports (10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2025-02-28. 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.