World Kinect layoffs, on the record
Every job cut, severance charge and restructuring World Kinect reported in its annual reports, 2023 to 2025, quoted from the filings.
Job cuts, severance and restructuring
Our summaryApproved and began a restructuring plan to realign operations, eliminating open positions and closing other positions to better align the workforce.
Word for word“In November 2023, we approved and began implementing a restructuring plan to realign our operational focus with the purpose of simplifying our business, enabling us to focus more clearly on growing our core businesses and our new sustainability-related activities, and improving our cost structure.” 10-K for 2023
Our summaryIdentified open positions that were eliminated and other positions that were closed as part of the restructuring plan.
Word for word“As part of this plan, we identified open positions that were eliminated and other positions that were closed to better align the workforce necessary to execute the revised strategy.” 10-K for 2023
Our summaryRecognized restructuring charges of severance and other compensation costs; the plan is estimated to yield annualized compensation savings.
Word for word“During the year ended December 31, 2023, we recognized restructuring charges of $ 7.2 million, composed of severance and other compensation costs.” 10-K for 2023
Our summaryExpects further restructuring charges from initiatives assessed in early 2024, with the restructuring intended to be completed in the second quarter of 2024.
Word for word“We expect to continue assessing potential initiatives during the first quarter of 2024, which could result in additional restructuring charges, with the intent of completing the restructuring activities during the second quarter of 2024.” 10-K for 2023
Our summaryCompany approved and began a 2023 Restructuring Plan to realign operations, eliminating open positions and closing other positions to better align the workforce.
Word for word“In November 2023, we approved and began implementing a restructuring plan (the "2023 Restructuring Plan") to realign our operational focus with the purpose of simplifying our business, enabling us to focus more clearly on growing our core businesses and our new sustainability-related activities, and improving our cost structure.” 10-K for 2024
Our summaryCompany recognized restructuring charges of severance and other compensation costs under the 2023 Restructuring Plan.
Word for word“As part of the restructuring plan in 2023 and 2024, we recognized restructuring charges totaling $9.6 million, composed of severance and other compensation costs.” 10-K for 2024
Our summaryCompany recorded impairment charges after deciding to shift investments away from underperforming businesses and assess its global office footprint.
Word for word“We also decided to shift future investments away 24 Table of Contents from underperforming businesses and to continue assessing our global office footprint, resulting in impairment charges of $11.2 million during the fourth quarter of 2023.” 10-K for 2024
Our summaryCompany ceased operations at one of its Brazil subsidiaries within the marine segment and wrote off recoverable VAT credits.
Word for word“In addition, as part of the 2023 Restructuring Plan, within our marine segment we made the decision during the second quarter of 2024 to cease operations at one of our subsidiaries in Brazil, resulting in the write-off of $3.3 million of VAT credits that are no longer recoverable.” 10-K for 2024
Our summaryCompany completed the 2023 Restructuring Plan activities, which it estimated would yield annualized compensation-related savings.
Word for word“We estimate that the plan should result in approximately $21.9 million in annualized compensation-related savings.” 10-K for 2024
Our summaryCompany decided to exit certain operations, including rationalizing assets and personnel in its North American land business and disposing of its Brazil operations.
Word for word“During the fourth quarter of 2024, we decided to take actions to exit certain operations, including the rationalization of certain assets and associated personnel within our North American land business as well as the disposal of our operations in Brazil.” 10-K for 2024
Our summaryCompany recognized additional asset impairment, receivable write-off and severance charges from its 2024 exit actions.
Word for word“As a result of the actions taken in 2024, during the three months ended December 31, 2024, we recognized asset impairment charges of $3.1 million, wrote off accounts receivable totaling $4.4 million, and recognized additional charges for severance and other compensation costs of $1.4 million.” 10-K for 2024
Our summaryIn the fourth quarter of 2025 the company committed to exiting several land segment operations that were unprofitable or not aligned with its strategy, and recorded exit charges including severance.
Word for word“During the fourth quarter of 2025, management committed to and initiated actions to execute a plan to exit certain operations within the land segment, including direct fuel transportation services, lubricants, heating oil, power, and certain advisory and sustainability offerings, that are no longer profitable or not aligned with the Company's core business and corporate strategy.” 10-K for 2025
Our summaryThe company began a company-wide 2025 Restructuring Plan to streamline operations, closing open positions and eliminating other roles to align the workforce with strategic priorities.
Word for word“As part of this initiative, we undertook cost management actions in response to the current and projected business needs, including the closure of certain open positions and the elimination of other roles to better align the workforce with our current strategic priorities.” 10-K for 2025
Our summaryThe company recorded restructuring charges for the 2025 Restructuring Plan, including severance and other compensation costs and transition costs.
Word for word“As a result of the actions taken under the 2025 Restructuring Plan, we recognized $45.2 million of restructuring charges associated with the 2025 Restructuring Plan during the year ended December 31, 2025, including $32.7 million of severance and other compensation costs and $12.6 million of other transition related costs.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-12-31 | $0 | — |
| 2017-12-31 | $59.6 million | — |
| 2018-12-31 | $17.1 million | $28.5 million |
| 2019-12-31 | $19.7 million | $30.8 million |
| 2020-12-31 | $10.3 million | — |
| 2021-12-31 | $6.6 million | — |
| 2022-12-31 | −$800,000 | — |
| 2023-12-31 | $7.2 million | — |
| 2024-12-31 | $7.1 million | $7.5 million |
| 2025-12-31 | $103.1 million | $23.7 million |
World Kinect 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 World Kinect’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 2026-02-24. 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.