Worthington Steel layoffs, on the record
Every job cut, severance charge and restructuring Worthington Steel reported in its annual reports, 2024 to 2026, quoted from the filings. Headcount went from approximately 4,600 to approximately 4,800.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2024 | approximately 4,600 | May 31, 2024 |
| 10-K for 2025 | approximately 4,800 | As of May 31, 2025 |
Job cuts, severance and restructuring
Our summaryFiscal 2024 restructuring and other income was nil; no material restructuring charges were recorded and no restructuring liabilities remained at year end.
Word for word“During fiscal 2024 , no material restructuring and other income, net charges were recorded.” 10-K for 2024
Our summaryIn fiscal 2023, restructuring activity included a gain on the sale of WSP's Jackson, Michigan facility, which included an early retirement and severance expense line of $0.1 million.
Word for word“The transaction resulted in a gain of $ 3.9 million.” 10-K for 2024
Our summaryIn fiscal 2022, the company recorded restructuring income including incremental early retirement and severance costs tied to the Canton, Michigan and Decatur, Alabama facility exits.
Word for word“Additional incremental early retirement and severance costs of $ 0.3 million offset the above gains.” 10-K for 2024
Our summaryTWB announced a voluntary retirement program (VRP) and the Company recognized severance expense tied to it during fiscal 2025.
Word for word“Restructuring and other expense, net in fiscal 2025 was driven by the $1.8 million of severance expense associated with a TWB voluntary retirement program ("VRP"), which is expected to accelerate the normal retirement attrition process and result in future cost savings.” 10-K for 2025
Our summaryThe Company announced plans to consolidate and close WSCP's remaining Cleveland, Ohio toll processing facility into its Twinsburg, Ohio facility and recognized severance expense for it.
Word for word“The Company announced plans to consolidate WSCP's remaining Cleveland, Ohio toll processing manufacturing facility into its existing manufacturing facility in Twinsburg, Ohio.” 10-K for 2025
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2022-05-31 | $300,000 | — | — |
| 2023-05-31 | — | $100,000 | $600,000 |
Worthington Steel 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 Worthington Steel’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 2026-07-30. 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.