Trane Technologies layoffs, on the record
Every job cut, severance charge and restructuring Trane Technologies reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 40,000 to approximately, 44,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 40,000 | December 31, 2023 |
| 10-K for 2024 | approximately 45,000 | December 31, 2024 |
| 10-K for 2025 | approximately, 44,000 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryThe company said restructuring initiatives may include workforce reductions, among other actions, to improve operating performance.
Word for word“Actions associated with these initiatives may include workforce reductions, improving manufacturing productivity, realignment of management structures and rationalizing certain assets.” 10-K for 2023
Our summaryThe company reported restructuring costs in its segment reconciliation for each of the three years shown.
Word for word“Restructuring costs ( 15.1 ) ( 20.7 ) ( 27.0 ) Non-cash adjustments for contingent consideration 49.3 46.9 — Insurance settlements on property claims 10.0 25.0 — Impairment of equity investment ( 52.2 ) — — Acquisition inventory step-up ( 6.4 ) ( 0.8 ) — Unallocated corporate expenses ( 291.3 ) ( 243.9 ) ( 245.7 ) Earnings before income taxes $ 2,567.3 $ 2,172.1 $ 1,790.7 Depreciation and Amortization Americas $ 259.2 $ 256.9 $ 227.6 EMEA 51.4 28.8 33.3 Asia Pacific 19.1 17.6 16.5 Depreciation and amortization from reportable segments $ 329.7 $ 303.3 $ 277.4 Unallocated depreciation and amortization 18.4 20.3 22.0 Total depreciation and amortization $ 348.1 $ 323.6 $ 299.4 Capital Expenditures Americas $ 217.2 $ 230.5 $ 148.7 EMEA 31.9 25.9 23.6 Asia Pacific 14.3 11.2 20.6 Capital expenditures from reportable segments $ 263.4 $ 267.6 $ 192.9 Corporate capital expenditures 37.3 24.2 30.1 Total capital expenditures $ 300.7 $ 291.8 $ 223.0 At December 31, a summary of long-lived assets by geographic area were as follows: In millions 2023 2022 United States $ 1,618.6 $ 1,413.8 Non-U.S. 666.7 584.8 Total $ 2,285.3 $ 1,998.6 F-42 Table of Contents NOTE 20.” 10-K for 2023
Our summaryThe company said it incurred about $134 million of costs cumulatively through 2023 to achieve cost savings from its restructuring program.
Word for word“In order to achieve these cost savings, we incurred approximately $134 million of costs cumulatively through December 31, 2023.” 10-K for 2023
Our summaryThe company reported cash payments for restructuring in its free cash flow reconciliation.
Word for word“Cash payments for restructuring 12.3 17.9 Transformation costs paid 3.9 9.6 Acquisition related transaction costs 18.9 — QSF funding (continuing operations component) — 91.8 Compensation related payment to a retired executive — 64.3 Insurance settlements on property claims (10.0) (25.0) Free cash flow (1) $ 2,151.2 $ 1,565.5 (1) Represents a non-GAAP measure.” 10-K for 2023
Our summaryThe company reported restructuring costs of $31.2 million in 2025, compared with $5.0 million in 2024 and $15.1 million in 2023.
Word for word“Total Segment Adjusted Operating Income 4,225.7 3,820.7 3,171.2 Restructuring costs ( 31.2 ) ( 5.0 ) ( 15.1 ) Non-cash adjustments for contingent consideration 61.2 25.0 49.3 Non-cash settlement charge related to the transfer of a pension liability to an insurance company ( 17.2 ) — — Insurance settlements on property claims — — 10.0 Acquisition inventory step-up and backlog amortization — — ( 18.5 ) Unallocated corporate expenses ( 288.5 ) ( 340.6 ) ( 302.9 ) Interest expense ( 226.7 ) ( 238.4 ) ( 234.5 ) Other income/(expense), net ( 44.7 ) ( 19.9 ) ( 92.2 ) Earnings before income taxes $ 3,678.6 $ 3,241.8 $ 2,567.3 F-42 Table of Contents Capital Expenditures December 31, In millions 2025 2024 2023 Americas $ 263.4 $ 244.7 $ 217.2 EMEA 31.3 36.6 31.9 Asia Pacific 7.0 16.1 14.3 Capital expenditures from reportable segments $ 301.7 $ 297.4 $ 263.4 Corporate capital expenditures 81.3 73.2 37.3 Total capital expenditures $ 383.0 $ 370.6 $ 300.7 At December 31, a summary of long-lived assets by geographic area were as follows: In millions 2025 2024 United States $ 2,072.0 $ 1,936.0 Non-U.S.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|---|
| 2016-12-31 | — | $35.5 million | $27.6 million |
| 2017-12-31 | — | $61.7 million | $37.3 million |
| 2018-12-31 | — | $43.5 million | $40.2 million |
| 2019-12-31 | — | $52.6 million | $46 million |
| 2020-12-31 | $75.7 million | $75.7 million | $67.6 million |
| 2021-12-31 | $27 million | $27 million | $38.5 million |
| 2022-12-31 | $20.7 million | — | — |
| 2023-12-31 | $15.1 million | — | — |
Trane Technologies 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 Trane Technologies’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 2026-02-05. 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.