Voya Financial layoffs, on the record

Headcount, as reported

Job cuts, severance and restructuring

1. Our summaryVoya recorded integration expenses, including severance, from the Benefitfocus acquisition, and said it expects more such expenses in the future. year ended December 31, 2023 · Cost: $37 million of integration expenses

   Word for word“In connection with the acquisition, we have incurred $37 million of integration expenses for the year ended December 31, 2023 and expect to incur additional integration expenses in the future.” 10-K for 2023

2. Our summaryOperating expenses rose partly because of higher severance accruals in the current period.

   Word for word“Operating expenses increased $554 million from $2,542 million to $3,096 million primarily due to: • an increase in Health Solutions expenses primarily driven by the acquisition of Benefitfocus and business growth; • an increase in Investment Management expenses primarily driven by the addition of the AllianzGI business; • an increase in Wealth Solutions expenses driven by business growth; • closing and integration costs associated with the acquisition of Benefitfocus; • an increase in the amortization of intangible assets associated with acquisitions; • an increase in the deferred compensation plan liability due to equity market movements; and • higher severance accruals in the current period.” 10-K for 2023

3. Our summaryOther adjustments loss increased, driven partly by higher severance accruals in the current period.

   Word for word“Other adjustments decreased $69 million from a loss of $111 million to a loss of $180 million primarily due to: • closing and integration costs associated with the acquisition of Benefitfocus; • an increase in the amortization of intangible assets associated with acquisitions; and • higher severance accruals in the current period.” 10-K for 2023

4. Our summaryThe company incurred integration expenses that included severance, consulting and business integration costs tied to an acquisition. for the years ended December 31, 2024 and 2023 · Cost: $3 million and $37 million of integration expenses

   Word for word“In connection with the acquisition, we incurred $3 million and $37 million of integration expenses for the years ended December 31, 2024 and 2023, respectively.” 10-K for 2024

5. Our summaryThe company recorded severance costs as a pre-tax adjustment in its 2024 results. For the year ended December 31, 2024 · Cost: $15 million, pre-tax, of severance costs

   Word for word“For the year ended December 31, 2024, also includes $15 million, pre-tax, of severance costs, a $15 million, pre-tax, write-off of an intangible asset related to a prior acquisition, a $10 million, pre-tax, write-off of previously capitalized costs associated with an internal technology project which is no longer being pursued, and $5 million, pre-tax, related to an insurance company guaranty fund assessment net of premium tax credits, partially offset by a $26 million, pre-tax, net actuarial gain related to pension and other postretirement benefit obligations.” 10-K for 2024

6. Our summaryThe company recorded severance costs as a pre-tax adjustment in its 2023 results. For the year ended December 31, 2023 · Cost: $35 million, pre-tax, of severance costs

   Word for word“For the year ended December 31, 2023, also includes $35 million, pre-tax, of severance costs, a $22 million, pre-tax, net favorable adjustment to certain acquisition-related assets and liabilities, and a $17 million, pre-tax, impairment related to a vacated leased building.” 10-K for 2024

7. Our summaryOperating expenses fell partly because of lower severance costs in the current period and actions to manage spend.

   Word for word“Operating expenses decreased $14 million from $3,096 million to $3,082 million primarily due to: • actions to efficiently manage spend; • the absence of closing costs incurred in the prior period and lower integration costs associated with recent acquisitions in the current period; • a larger net actuarial gain related to pension and other postretirement benefit obligations recorded in the current period.” 10-K for 2024

8. Our summaryVoya recorded $48 million of pre-tax severance costs in 2025, up from $15 million in 2024, and counted them among other adjustments. For the year ended December 31, 2025 · Cost: $48 million, pre-tax, of severance costs

   Word for word“For the year ended December 31, 2025, also includes $48 million, pre-tax, of severance costs and a $24 million, pre-tax, net actuarial loss related to pension and other postretirement benefit obligations.” 10-K for 2025

Voya Financial 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 Voya Financial’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 2026-02-20. 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.