Superior Industries International layoffs, on the record
Every job cut, severance charge and restructuring Superior Industries International reported in its annual reports, 2022 to 2024, quoted from the filings. Headcount went from approximately 7,700 to approximately 6,500.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | approximately 7,700 | As of December 31, 2022 |
| 10-K for 2023 | approximately 6,600 | December 31, 2023 |
| 10-K for 2024 | approximately 6,500 | As of December 31, 2024 |
Job cuts, severance and restructuring
Our summaryAnnounced a reduction in workforce at Werdohl, Germany, recorded as a restructuring charge mostly for termination and related benefits; in 2022 the company incurred termination costs and then reversed the remaining accrual after determining no further staffing reductions were planned.
Word for word“During the fourth quarter of 2021, the Company announced a reduction in its workforce at Werdohl, Germany.” 10-K for 2022
Our summaryThe company began a reduction in its global workforce to better align its cost structure with lower automotive industry production levels.
Word for word“During the first quarter of 2023, the Company initiated a reduction in its global workforce to better align our cost structure with lower automotive industry production levels.” 10-K for 2023
Our summaryThe company recorded a restructuring charge in cost of sales tied to its reduction in global workforce.
Word for word“as well as a restructuring charge of $5.0 million related to the Company's reduction in its global workforce (refer to Note 21 “Restructuring” in the Notes to the Consolidated Financial Statements in Item 8, “Financial Statements and Supplementary Data”).” 10-K for 2023
Our summaryThe company recorded a restructuring severance charge in SG&A tied to its reduction in global workforce.
Word for word“and the $2.8 million restructuring severance charge related to the Company’s reduction in its global workforce (refer to Note 21 “Restructuring” in the Notes to Consolidated Financial Statements in Item 8, “Financial Statements and Supplementary Data”).” 10-K for 2023
Our summaryThe European segment recorded a restructuring charge as part of its results.
Word for word“In addition, our European segment incurred an $8.3 million provision for a valuation allowance on claims receivable from the SPG bankruptcy estate and a $6.3 million restructuring charge.” 10-K for 2023
Our summaryAs of year end, the company had paid part of the separation costs and reduced the accrual, leaving a remaining restructuring accrual.
Word for word“As of December 31, 2023, the Company had paid $ 2.8 million in separation costs and had reduced the accrual by $ 1.8 mi llion related to the deconsolidation of a subsidiary (refer to Note 22 “Loss on Deconsolidation of a Subsidiary”), resulting in a remaining acc rual of $ 3.2 mil lion.” 10-K for 2023
Our summaryThe company started a program in 2024 to cut its global workforce so its costs match expected light vehicle industry volumes, and recorded net restructuring charges for the year.
Word for word“During the year ended December 31, 2024 , the Company recognized net restructuring charges of $ 7.0 million.” 10-K for 2024
Our summaryThe company started a program in 2023 to cut its global workforce to fit lower automotive industry production, and recorded net restructuring charges for the year.
Word for word“During the year ended December 31, 2023 , the Company recognized net restructuring charges of $ 8.1 million.” 10-K for 2024
Our summaryThe company recorded restructuring charges in January 2025 for cash severance under an approved restructuring plan.
Word for word“In January 2025, the Company recognized restructuring charges of $ 2.1 million related to cash severance costs under an approved restructuring plan.” 10-K for 2024
| Fiscal year ended | Restructuring charges | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|---|
| 2016-12-25 | $1.5 million | $15.9 million | — |
| 2017-12-31 | — | $138,000 | — |
| 2023-12-31 | $8.1 million | — | $2.8 million |
| 2024-12-31 | $7 million | — | $5 million |
Superior Industries International 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 Superior Industries International’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 2025-03-06. 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.