TPI Composites layoffs, on the record
Every job cut, severance charge and restructuring TPI Composites reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from more than 12,300 to more than 9,600.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | more than 12,300 | As of December 31, 2023 |
| 10-K for 2024 | more than 11,700 | December 31, 2024 |
| 10-K for 2025 | more than 9,600 | As of December 31, 2025 |
Job cuts, severance and restructuring
Our summaryCommitted to a restructuring plan to rebalance the organization and optimize the global manufacturing footprint, ceasing production at the Yangzhou, China facility and shutting down China operations.
Word for word“In December 2022, the Company committed to a restructuring plan to rebalance our organization and optimize our global manufacturing footprint.” 10-K for 2023
Our summaryRecorded restructuring charges, net, mainly severance from reorganizing operations in Türkiye, a temporary shutdown of the Newton, Iowa facility, and a stop of production at one Juarez, Mexico facility.
Word for word“For the years ended December 31, 2023, 2022 and 2021, restructuring charges, net totaled $ 5.1 million, $ 0.3 million and $ 12.5 million, respectively.” 10-K for 2023
Our summaryRecorded severance charges at the Türkiye and Rhode Island facilities, driving the increase in restructuring charges.
Word for word“The increase in restructuring charges, net for the year ended December 31, 2023, as compared to the same period in 2022 was primarily due to an increase in severance costs at our Türkiye and Rhode Island facilities.” 10-K for 2023
Our summaryRecorded severance and other charges in discontinued operations for the China wind blade restructuring, with the restructuring liability paid down during 2023.
Word for word“Restructuring charges, net ( 1,981 ) 1,225 ( 756 ) Payments ( 13,459 ) ( 2,366 ) ( 15,825 ) Balance at December 31, 2023 $ 317 $ 866 $ 1,183 Note 3.” 10-K for 2023
Our summaryRecorded severance charges related to the Proterra bankruptcy bus body supply agreement.
Word for word“As a result of the bankruptcy filing by Proterra, we recorded a charge for credit losses on contract assets of $12.8 million, a charge for credit losses on accounts receivable of $8.1 million, a charge for inventory of $1.7 million, an impairment charge of $0.7 million related to fixed assets, and severance charges totaling $0.4 million.” 10-K for 2023
Our summaryIn December 2024 the company committed to a restructuring plan in Türkiye to rationalize its workforce, recording severance and one-time termination benefits in the fourth quarter.
Word for word“In December 2024, we committed to a restructuring plan in Türkiye in order to rationalize our workforce in response to this lower forecasted demand amid intense Chinese competition and the continued hyperinflationary environment.” 10-K for 2024
Our summaryThe company shut down its Nordex Matamoros facility at the end of the Nordex contract, releasing all associates working there; Nordex funded the severance costs.
Word for word“Our results of operations were adversely impacted by the performance of this facility in the first half of the year due to higher than anticipated losses driven by cancelled orders and production inefficiencies resulting from Nordex's request for us to shut down the facility at the conclusion of the contract on June 30, 2024, including releasing all associates working in the facility.” 10-K for 2024
Our summaryRestructuring charges for 2024 were recorded mainly as severance, including increased severance at the Türkiye facilities and severance tied to the planned divestiture of the tooling business.
Word for word“The increase in restructuring charges, net for the year ended December 31, 2024, as compared to the same period in 2023 was primarily due to increased severance costs at our Türkiye facilities in the current period as part of our restructuring plan to rationalize our workforce in Türkiye in response to lower forecasted demand, as well as additional severance costs associated with the planned divestiture of our tooling business.” 10-K for 2024
Our summaryIn December 2022 the company committed to a restructuring plan to rebalance its organization and optimize its global manufacturing footprint, and ceased production at its Yangzhou, China facility.
Word for word“In December 2022, we committed to a restructuring plan to rebalance our organization and optimize our global manufacturing footprint.” 10-K for 2024
Our summaryThe company reported restructuring charges for 2023 primarily tied to severance in Türkiye from reorganizing operations there.
Word for word“For the years ended December 31, 2024, and 2023, restructuring charges, net totaled $ 11.0 million, and $ 4.1 million, respectively.” 10-K for 2024
Our summaryThe company recorded higher restructuring charges in 2025, mainly pre-bankruptcy professional fees, plus more termination benefits for a workforce reduction at its India facility after a customer supply agreement ended.
Word for word“The increase in restructuring charges, net for the year ended December 31, 2025, as compared to the same period in 2024 was primarily due to $23.2 million of pre-petition professional fees related to our capital restructuring activities prior to the filing of the Chapter 11 Cases, as well as an increase in termination benefits associated with a reduction in workforce at our India facility at the conclusion of our supply agreement with one of our customers.” 10-K for 2025
Our summaryThe company filed a voluntary Chapter 11 petition to restructure its business and balance sheet, which triggered an event of default that accelerated its debt.
Word for word“On August 11, 2025, the Company filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code in the Bankruptcy Court, which is an event of default that accelerated our debt obligations.” 10-K for 2025
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2019-12-31 | $3.3 million | $3.9 million | — |
| 2020-12-31 | $0 | $205,000 | $205,000 |
| 2021-12-31 | $12.5 million | $12.5 million | $7.7 million |
| 2022-12-31 | −$502,000 | −$30,000 | $4.3 million |
| 2023-12-31 | $66,000 | $40,000 | $497,000 |
| 2024-12-31 | $1.3 million | $1.3 million | $1.3 million |
| 2025-12-31 | $2.3 million | $25.6 million | $23.9 million |
TPI Composites filed 3 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 TPI Composites’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 2026-03-25. 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.