Textron layoffs, on the record
Every job cut, severance charge and restructuring Textron reported in its annual reports, 2023 to 2026, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 35,000 | December 30, 2023 |
Job cuts, severance and restructuring
Our summaryBoard approved a 2023 restructuring plan to cut operating expenses through headcount reductions at the Industrial, Bell and Textron Systems segments.
Word for word“In the fourth quarter of 2023, our Board of Directors approved a restructuring plan developed by management in connection with the Company’s annual operating plan process.” 10-K for 2023
Our summaryIndustrial segment severance and asset impairment charges recorded under the 2023 restructuring plan.
Word for word“Special charges recorded in 2023 and 2021 by segment and type of cost are as follows: (In millions) Severance Costs Contract Terminations and Other Asset Impairments Total Restructuring Charges 2023 Industrial $ 21 $ — $ 87 $ 108 Bell 13 — — 13 Textron Systems 5 — — 5 Total special charges $ 39 $ — $ 87 $ 126 2021 Industrial $ 4 $ 9 $ 12 $ 25 Total special charges $ 4 $ 9 $ 12 $ 25 2023 Special Charges In the fourth quarter of 2023, our Board of Directors approved a restructuring plan developed by management in connection with the Company’s annual operating plan process.” 10-K for 2023
Our summaryTargeted headcount reductions at Bell and Textron Systems to improve cost structures and realign workforces during a shift to development and engineering contracts; severance cost recorded.
Word for word“We recorded severance cost of $ 39 million related to this plan and expect a reduction of approximately 725 positions, representing 2 % of our global workforce.” 10-K for 2023
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-12-31 | $90 million | $22 million |
| 2017-12-30 | — | $87 million |
| 2018-12-29 | — | $30 million |
| 2020-01-04 | — | $31 million |
| 2021-01-02 | — | $88 million |
| 2022-01-01 | — | $36 million |
| 2022-12-31 | — | $15 million |
| 2023-12-30 | $39 million | $5 million |
| 2024-12-28 | $81 million | $49 million |
| 2026-01-03 | $8 million | $41 million |
Textron filed 9 restructuring notices (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 Textron’s annual reports (10-K for 2026, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-11. 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.