Timken layoffs, on the record
Every job cut, severance charge and restructuring Timken reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from more than 19,000 to approximately 19,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | more than 19,000 | At December 31, 2023 |
| 10-K for 2024 | approximately 19,000 | December 31, 2024 |
| 10-K for 2025 | approximately 19,000 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryThe filing reports that Timken has taken approximately $127 million in impairment and restructuring charges in aggregate over the last five years.
Word for word“We have taken approximately $127 million in impairment and restructuring charges in the aggregate during the last five years.” 10-K for 2023
Our summaryThe filing warns that downturns could lead to layoffs, production cuts and restructuring actions, and that additional restructuring actions may follow; no specific new layoff is reported.
Word for word“If there are downturns in the industries that we serve, including as a result of high inflation or a recession, we may be forced to significantly curtail or suspend our operations with respect to those industries, including laying-off employees, reducing production, recording asset impairment charges and other measures, which may adversely affect our results of operations and profitability.” 10-K for 2023
Our summaryThe filing says Timken has taken impairment and restructuring charges in aggregate over the past five years.
Word for word“We have taken approximately $133 million in impairment and restructuring charges in the aggregate during the last five years.” 10-K for 2024
Our summaryThe company recorded higher impairment and restructuring charges in 2025, mainly from severance tied to the CEO transition and from closing its bearing plant in Heilbronn, Germany.
Word for word“Impairment and restructuring charges increased in 2025 compared to 2024 primarily due to severance expense related to the CEO transition, and restructuring charges related to the announced closure of the Company's bearing manufacturing facility in Heilbronn, Germany.” 10-K for 2025
Our summaryThe company reported about $137 million of impairment and restructuring charges over the last five years and warned that more restructuring actions and charges may follow.
Word for word“We have taken approximately $137 million in impairment and restructuring charges in the aggregate during the last five years.” 10-K for 2025
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2016-12-31 | $1.9 million | $1.7 million | $4.3 million |
| 2017-12-31 | $0 | $4.2 million | $10.4 million |
| 2018-12-31 | $3 million | — | — |
| 2019-12-31 | $3 million | — | $4.2 million |
| 2020-12-31 | $19.6 million | — | $15.5 million |
| 2021-12-31 | $2.6 million | — | $5.4 million |
| 2022-12-31 | $4.2 million | — | $9.7 million |
| 2023-12-31 | $11.1 million | — | $9.6 million |
| 2024-12-31 | $7.6 million | — | $12 million |
| 2025-12-31 | $23.6 million | — | $15.8 million |
Timken 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 Timken’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 2026-02-13. 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.