Team layoffs, on the record
Every job cut, severance charge and restructuring Team reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 5,400 to approximately 5,300.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 5,400 | During 2023 |
| 10-K for 2024 | approximately 5,400 | During 2024 |
| 10-K for 2025 | approximately 5,300 | During 2025 |
Job cuts, severance and restructuring
Our summaryThe company reduced operating costs through headcount reductions and other steps since January 2021, which resulted in restructuring charges.
Word for word“Since January 2021, we have implemented a new strategic organizational structure and reduced our operating costs through headcount reductions and other steps to better position ourselves for the recovery after the COVID-19 pandemic and to continue service diversification and enhance client value.” 10-K for 2023
Our summaryThe company recorded severance charges tied to customary staff reductions across multiple departments in 2023.
Word for word“For 2023, represents customary severance costs associated with staff reductions across multiple departments.” 10-K for 2023
Our summaryThe company recorded severance charges in 2022 tied to executive departures and ongoing cost reduction efforts.
Word for word“For 2022, severance charges represent costs associated with executive departures and our ongoing cost reduction efforts across multiple segments .” 10-K for 2023
Our summaryThe company has reduced operating costs through headcount reductions and other steps since January 2021 under a new strategic organizational structure, which resulted in restructuring charges.
Word for word“Since January 2021, we have implemented a new strategic organizational structure and reduced our operating costs through headcount reductions and other steps to better position ourselves to deliver improved margins and cash flow from operations and to continue service diversification and enhance customer value.” 10-K for 2024
Our summaryThe company recorded severance charges, net, for customary severance costs tied to staff reductions across multiple departments.
Word for word“Represents customary severance costs associated with staff reductions across multiple departments.” 10-K for 2024
Our summaryThe company recorded net severance charges that it treats as non-core expenses, higher than the year before.
Word for word“Severance charges, net 1,470 1,323 (147) (11.1) % Total non-core expenses 11,776 5,558 (6,218) (111.9) % Total operating income, excluding non-core expenses $ 25,847 $ 15,694 $ 10,153 64.7 % Excluding the impact of these identified non-core expenses in both periods, operating income in 2025 increased year over year by $10.2 million from $15.7 million to $25.9 million.” 10-K for 2025
| Fiscal year ended | Restructuring charges |
|---|---|
| 2016-12-31 | $5.5 million |
| 2017-12-31 | $2.7 million |
| 2018-12-31 | $6.7 million |
| 2019-12-31 | $1.7 million |
| 2020-12-31 | $3.4 million |
| 2021-12-31 | $2.5 million |
| 2022-12-31 | $16,000 |
| 2023-12-31 | $0 |
Team filed 1 restructuring notice (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Team’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 2026-03-12. 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.