Universal layoffs, on the record
Every job cut, severance charge and restructuring Universal reported in its annual reports, 2024 to 2026, quoted from the filings. Headcount went from more than 27,000 to more than 25,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2024 | more than 27,000 | March 31, 2024 |
| 10-K for 2025 | more than 28,500 | March 31, 2025 |
| 10-K for 2026 | more than 25,000 | March 31, 2026 |
Job cuts, severance and restructuring
Our summaryRestructured operations at the GLS testing facility in Wilson, NC, incurring restructuring and impairment costs.
Word for word“As a result of the restructuring of the GLS operations, the Company incurred $ 1.8 million of restructuring and impairment costs for the fiscal year ended March 31, 2024.” 10-K for 2024
Our summaryIncurred termination and impairment costs in other areas of the Tobacco Operations segment.
Word for word“During the fiscal year ended March 31, 2024, the Company also incurred $ 1.7 million of termination and impairment costs in other areas of the Tobacco Operations segment.” 10-K for 2024
Our summaryIncurred termination costs for the Tobacco Operations segment.
Word for word“During the fiscal year ended March 31, 2022, the Company also incurred $ 2.2 million of termination costs for the Tobacco Operations segment.” 10-K for 2024
Our summaryUniversal began consolidating its European sheet tobacco operations into its Netherlands facility by winding down its sheet facility in Germany, incurring restructuring and impairment costs.
Word for word“During the fiscal year ended March 31, 2025, the Company began consolidating its European sheet tobacco operations into the Company’s facility in the Netherlands, by initiating a wind-down of activities at its sheet facility in Germany, incurring $ 10.5 million of restructuring and impairment costs.” 10-K for 2025
Our summaryUniversal recorded employee termination benefit costs within its fiscal 2025 restructuring charges, with a remaining liability at year end.
Word for word“Costs charged to expense 4,342 1,372 5,714 Payments and write-offs ( 1,660 ) ( 1,101 ) ( 2,761 ) Balance at March 31, 2025 $ 2,935 $ 271 $ 3,206” 10-K for 2025
Our summaryUniversal incurred termination and impairment costs in other areas of its Tobacco Operations segment.
Word for word“Additionally, during the fiscal year ended March 31, 2025, the Company also incurred $ 0.1 million of termination and impairment costs in other areas of the Tobacco Operations segment.” 10-K for 2025
Our summaryUniversal recorded restructuring and impairment costs for its Global Laboratory Services facility in Wilson, NC, and other termination costs in fiscal 2024.
Word for word“During the fiscal year ended March 31, 2024, the Company incurred $ 1.8 million of restructuring and impairment costs for its Global Laboratory Services, Inc (“GLS”) facility in Wilson, NC.” 10-K for 2025
Our summaryUniversal completed a pension lift-out, transferring pension obligations and assets to a third-party insurer through a non-participating annuity purchase.
Word for word“In March 2025, we completed a pension de-risking transaction or “pension lift-out” to transfer approximately $47 million of our Company-sponsored defined benefit pension plan obligations and assets to a third-party insurer through the purchase of a non-participating annuity.” 10-K for 2025
Our summaryIn fiscal 2026 the company recorded more costs for consolidating its European sheet tobacco operations, which began in fiscal 2025.
Word for word“During the fiscal year ended March 31, 2026, the Company recognized an additional $ 0.7 million of restructuring costs and $ 1.0 million of impairment costs related to the consolidation of its European sheet tobacco operations that began during the fiscal year ended March 31, 2025.” 10-K for 2026
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2017-03-31 | — | $4.4 million | $2 million |
| 2018-03-31 | — | $0 | $315,000 |
| 2019-03-31 | $4 million | $20.3 million | $4 million |
| 2020-03-31 | — | $7.5 million | $2.8 million |
| 2021-03-31 | — | $22.6 million | $8.3 million |
| 2022-03-31 | — | $10.5 million | $4.1 million |
| 2023-03-31 | — | $0 | $0 |
| 2024-03-31 | — | $3.5 million | $1.2 million |
| 2025-03-31 | — | $10.6 million | $1.6 million |
| 2026-03-31 | — | $1.8 million | $3.3 million |
Universal filed 2 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 Universal’s annual reports (10-K for 2026, 10-K for 2025, 10-K for 2024) and the financial data it files with the SEC, as of 2026-06-01. 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.