Wisconsin Electric Power layoffs, on the record
Every job cut, severance charge and restructuring Wisconsin Electric Power reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from 2,533 to 2,565.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 2,533 | December 31, 2023 |
| 10-K for 2024 | 2,497 | December 31, 2024 |
| 10-K for 2025 | 2,565 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryThe company reported lower severance expense in 2023 within other operating and maintenance costs for its power plants, compared with 2022.
Word for word“These increases were partially offset by lower severance during 2023.” 10-K for 2023
Our summaryThe company recorded severance expense related to past and future plant retirements, with a severance liability that grew over the year.
Word for word“Activity related to these severance liabilities for the years ended December 31 was as follows: (in millions) 2023 2022 2021 Severance liability at January 1 $ 13.5 $ 3.3 $ 0.7 Severance expense 1.6 10.2 3.0 Severance payments — — ( 0.4 ) Total severance liability at December 31 $ 15.1 $ 13.5 $ 3.3 Plant to be Retired Oak Creek Power Plant Units 5-8 As a result of a PSCW approval in December 2022 for the acquisition and construction of Darien, the retirement of OCPP Units 5-8 became probable.” 10-K for 2023
Our summaryThe filing reports lower severance expense in 2024 compared with 2023, linked to a decrease in other operation and maintenance expense at power plants.
Word for word“A $26.8 million decrease in other operating and maintenance related to our power plants, driven by the resolution of certain items as a result of our December 2024 Wisconsin rate order approved by the PSCW, as well as lower severance expense during 2024.” 10-K for 2024
Our summaryThe severance accrual for plant retirements was decreased in 2024 due to workforce realignment efforts, with a severance expense of negative $3.5 million.
Word for word“(1) The severance accrual was decreased in 2024 due to workforce realignment efforts.” 10-K for 2024
Our summaryThe filing reports lower severance expense during 2023 compared with 2022 within power plant operating costs.
Word for word“These increases were partially offset by lower severance expense during 2023.” 10-K for 2024
Our summaryThe company carries a severance liability for past and future plant retirements, which fell to $10.5 million at the end of 2025 after small payments and no new expense.
Word for word“Severance liability at January 1 $ 11.2 $ 15.1 $ 13.5 Severance expense — ( 3.5 ) (1) 1.6 Severance payments ( 0.7 ) ( 0.4 ) — Total severance liability at December 31 $ 10.5 $ 11.2 $ 15.1 (1) The severance accrual was lowered in 2024 due to workforce realignment efforts.” 10-K for 2025
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2017-12-31 | $25.8 million | — | — |
| 2018-12-31 | — | — | $9.9 million |
| 2019-12-31 | — | $0 | $5.7 million |
| 2020-12-31 | — | $0 | $100,000 |
| 2021-12-31 | — | $3 million | $400,000 |
| 2022-12-31 | $10.2 million | $10.2 million | $0 |
| 2023-12-31 | $1.6 million | $1.6 million | $0 |
| 2024-12-31 | — | — | $400,000 |
| 2025-12-31 | $0 | — | $700,000 |
Wisconsin Electric Power 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 Wisconsin Electric Power’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.