Thryv Holdings layoffs, on the record
Every job cut, severance charge and restructuring Thryv Holdings reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from 3,049 to 2,729.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 3,049 | December 31, 2023 |
| 10-K for 2024 | 3,016 | December 31, 2024 |
| 10-K for 2025 | 2,729 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryCompany reports severance expense recorded to General and administrative expense, totaling $5.834 million in 2023 across Thryv U.S. and Thryv International segments.
Word for word“The following table sets forth additional information related to severance expense incurred by the Company and recorded to General and administrative expense during the periods presented: Years Ended December 31, (in thousands) 2023 2022 2021 Severance Expense (1) Thryv U.S. Marketing Services $ 3,294 $ 2,516 $ 1,433 SaaS 1,622 669 306 Total Thryv U.S. $ 4,916 $ 3,185 $ 1,739 Thryv International Marketing Services $ 854 $ 297 $ 2,945 SaaS 64 9 — Total Thryv International $ 918 $ 306 $ 2,945 Total $ 5,834 $ 3,491 $ 4,684 (1) During the years ended December 31, 2023 2022, and 2021, no ne of the severance expense recorded was related to employee terminations as a result of COVID-19.” 10-K for 2023
Our summaryCompany reports restructuring and integration expenses, described as periodic efforts to enhance efficiencies and reduce costs, including severance benefits and costs of abandoned facilities and system consolidation.
Word for word“(2) For the years ended December 31, 2023, 2022 and 2021, expenses related to periodic efforts to enhance efficiencies and reduce costs, and include severance benefits, and costs associated with abandoned facilities and system consolidation.” 10-K for 2023
Our summaryCompany states it has historically undertaken cost reduction programs, with key components including reducing staff, and may initiate further rationalization.
Word for word“We have historically undertaken cost reduction programs, and we continue to evaluate our operations and may initiate further rationalization, depending on market conditions.” 10-K for 2023
Our summaryCompany reported ongoing cost reduction programs that include reducing staff, restructuring contracts, and realizing procurement and logistics savings.
Word for word“The key components of our cost reduction program include reducing staff, restructuring our contracts and realizing savings in procurement and logistics.” 10-K for 2024
Our summaryCompany incurred severance charges from reduction in force actions tied to shifting away from Marketing Services toward its SaaS business, in 2024.
Word for word“Specifically, we incurred severance charges of $10.9 million, $5.4 million and $2.3 million in the years ended December 31, 2024, 2023, and 2022, respectively, primarily related to our legacy Marketing Services employees and our shift from Marketing Services activities.” 10-K for 2024
Our summaryCompany recorded severance charges from workforce right-sizing after acquisitions, including Keap in 2024.
Word for word“Specifically, we incurred severance charges of $1.8 million, $0.4 million and $1.2 million in the years ended December 31, 2024, 2023, and 2022, respectively, resulting from the acquisitions of Keap in 2024, Yellow New Zealand in 2023, and Vivial in 2022.” 10-K for 2024
Our summaryCompany recorded total severance charges within restructuring and integration expenses, with segment split between Marketing Services and SaaS.
Word for word“Years Ended December 31, (in thousands) 2024 2023 2022 Severance Expense Thryv Marketing Services $ 7,347 $ 4,148 $ 2,813 Thryv SaaS 5,321 1,686 678 Total $ 12,668 $ 5,834 $ 3,491 Severance payments made by the Company during the years ended December 31, 2024, 2023, and 2022 totaled $ 9.1 million, $ 4.6 million, and $ 2.6 million, respectively.” 10-K for 2024
Our summaryCompany recorded restructuring and integration expenses, including abandoned facility costs, severance, and integration costs.
Word for word“Total Restructuring and integration expenses $ 32,697 $ 14,612 $ 17,804 (a) Represents expenses related to maintenance, utilities, and general upkeep at the Company's leased buildings.” 10-K for 2024
Our summaryThe company incurred severance charges from reduction in force actions, mainly tied to its legacy Marketing Services employees and its shift toward SaaS.
Word for word“Specifically, we incurred severance charges of $13.3 million, $10.9 million and $5.4 million in the years ended December 31, 2025, 2024, and 2023, respectively, primarily related to our legacy Marketing Services employees and our shift from Marketing Services activities.” 10-K for 2025
Our summaryThe company incurred severance charges to right-size its workforce after the Keap and Yellow acquisitions.
Word for word“Specifically, we incurred severance charges of $1.8 million and $0.4 million in the years ended December 31, 2024 and 2023, respectively, resulting from the acquisitions of Keap in 2024 and Yellow in 2023.” 10-K for 2025
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2018-12-31 | — | $87.3 million | — |
| 2019-12-31 | — | $46 million | — |
| 2020-12-31 | $11.7 million | $0 | $11.5 million |
| 2021-12-31 | $4.7 million | — | $4.8 million |
| 2022-12-31 | $3.5 million | — | $2.6 million |
| 2023-12-31 | $5.8 million | — | $4.6 million |
| 2024-12-31 | $12.7 million | — | $9.1 million |
Thryv 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 Thryv Holdings’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 2026-02-26. 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.