Triumph layoffs, on the record
Every job cut, severance charge and restructuring Triumph reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from 4,937 to 3,696.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 4,937 | — |
| 10-K for 2024 | 4,530 | — |
| 10-K for 2025 | 3,696 | — |
Job cuts, severance and restructuring
Our summaryThe company reported restructuring charges in the consolidated statement of operations for the fiscal year ended March 31, 2023.
Word for word“Restructuring 4,949 19,295 53,224 (Gain) loss on sale of assets and businesses ( 101,523 ) 9,294 104,702 1,141,036 1,355,665 2,195,870 Operating income (loss) 238,092 104,277 ( 326,151 ) Non-service defined benefit income ( 19,664 ) ( 5,373 ) ( 49,519 ) Debt extinguishment loss 33,044 11,624 — Warrant remeasurement gain, net ( 8,683 ) — — Interest expense and other, net 137,714 135,861 171,397 Income (loss) from continuing operations before income taxes 95,681 ( 37,835 ) ( 448,029 ) Income tax expense 6,088 4,923 2,881 Net income (loss) $ 89,593 $ ( 42,758 ) $ ( 450,910 ) Earnings (loss) per share—basic: Net income (loss) $ 1.38 $ ( 0.66 ) $ ( 8.55 ) Weighted average common shares outstanding—basic 65,021 64,538 52,739 Earnings (loss) per share—diluted: Net income (loss) $ 1.20 $ ( 0.66 ) $ ( 8.55 ) Weighted average common shares outstanding—diluted 71,721 64,538 52,739 See accompanying notes to consolidated financial statements.” 10-K for 2023
Our summaryThe company reported that it has implemented restructuring, realignment and cost-reduction initiatives over the past several years, including reductions in its workforce.
Word for word“Over the past several years, we have implemented a number of restructuring, realignment and cost-reduction initiatives, including facility consolidations, organizational realignments and reductions in our workforce.” 10-K for 2023
Our summaryThe company said it plans to exit certain facilities as part of restructuring, which could expose it to environmental remediation obligations.
Word for word“Also, as we proceed with our plans to exit certain facilities as part of restructuring and related initiatives, the need for remediation for potential environmental contamination could be identified, and such obligations could be material.” 10-K for 2023
Our summaryThe filing reports restructuring charges in fiscal 2024, 2023 and 2022 within continuing operations, with the fiscal 2024 amount shown on the income statement.
Word for word“Restructuring 6,970 3,172 19,221 Loss (gain) on sale of assets and businesses 12,208 ( 101,523 ) 9,294 1,105,589 934,877 1,189,224 Operating income 86,454 195,685 73,480 Non-service defined benefit income ( 2,372 ) ( 19,664 ) ( 5,373 ) Debt modification and extinguishment loss 1,694 33,044 11,624 Warrant remeasurement gain, net ( 8,545 ) ( 8,683 ) — Interest expense and other, net 123,021 115,211 113,080 (Loss) income from continuing operations before income taxes ( 27,344 ) 75,777 ( 45,851 ) Income tax expense 7,123 3,360 4,526 (Loss) income from continuing operations ( 34,467 ) 72,417 ( 50,377 ) Income from discontinued operations, net of tax expense of $ 11,788 , $ 2,728 , and $ 397 , respectively 546,851 17,176 7,619 Net income (loss) $ 512,384 $ 89,593 $ ( 42,758 ) (Loss) earnings per share—basic: (Loss) earnings per share - continuing operations $ ( 0.46 ) $ 1.12 $ ( 0.78 ) Earnings per share - discontinued operations 7.38 0.26 0.12 Earnings (loss) per share $ 6.92 $ 1.38 $ ( 0.66 ) Weighted average common shares outstanding—basic 74,149 65,021 64,538 Earnings (loss) per share—diluted: (Loss) earnings per share - continuing operations $ ( 0.46 ) $ 0.96 $ ( 0.78 ) Earnings per share - discontinued operations 7.38 0.24 0.12 Earnings (loss) per share $ 6.92 $ 1.20 $ ( 0.66 ) Weighted average common shares outstanding—diluted 74,149 71,721 64,538 See accompanying notes to consolidated financial statements.” 10-K for 2024
| Fiscal year ended | Restructuring charges | Restructuring costs incurred |
|---|---|---|
| 2017-03-31 | $42.2 million | $42.2 million |
| 2018-03-31 | $40.1 million | $40.1 million |
| 2019-03-31 | $31.1 million | $31.1 million |
| 2020-03-31 | $25.3 million | — |
| 2021-03-31 | $53.2 million | — |
| 2022-03-31 | $19.2 million | — |
| 2023-03-31 | $3.2 million | — |
| 2024-03-31 | $7 million | — |
| 2025-03-31 | $5.4 million | — |
Triumph 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 Triumph’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 2025-05-28. 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.