Tennessee Valley Authority layoffs, on the record
Every job cut, severance charge and restructuring Tennessee Valley Authority reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from 10,901 to 10,635.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 10,901 | — |
| 10-K for 2024 | 11,312 | September 30 2024 |
| 10-K for 2025 | 10,635 | September 30 2025 |
Job cuts, severance and restructuring
Our summaryThe filing describes an amended Executive Severance Plan that removed change-in-control severance benefits for named executive officers.
Word for word“On January 26, 2024, TVA's Executive Severance Plan ("Severance Plan") was amended and restated to eliminate the additional severance benefits available to NEOs and other participants in connection with a change in control of TVA.” 10-K for 2024
Our summaryThe filing describes the amended Severance Plan reducing the CEO's cash severance formula.
Word for word“Under the Severance Plan, the CEO's cash severance was reduced as a result of a change in the cash severance formula from (1) 1.5 times the sum of the CEO's salary and target EAIP to (2) 1.0 times the CEO's salary.” 10-K for 2024
Our summaryTVA is running an Enterprise Transformation Program to improve finances and make the workforce more efficient, and certain employees are eligible for severance payments. The organizational design work was complete as of September 30, 2025.
Word for word“The organizational design efforts associated with the ETP were complete as of September 30, 2025; however, the ETP is ongoing as TVA executes the focus areas described above.” 10-K for 2025
Our summaryOperating and maintenance expense rose because of higher payroll and benefit costs, including severance costs tied to the Enterprise Transformation Program.
Word for word“This increase was primarily due to $136 million of increased payroll and benefit costs primarily due to labor escalation for cost of living increases, severance costs associated with ETP efforts, and higher medical claims.” 10-K for 2025
| Fiscal year ended | Restructuring costs incurred |
|---|---|
| 2025-09-30 | −$29 million |
Tennessee Valley Authority 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 Tennessee Valley Authority’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 2025-11-13. 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.