ZimVie layoffs, on the record
Every job cut, severance charge and restructuring ZimVie reported in its annual reports, 2022 to 2024, quoted from the filings. Headcount went from approximately 2,700 to approximately 1,770.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | approximately 2,700 | December 31, 2022 |
| 10-K for 2023 | approximately 2,600 | December 31, 2023 |
| 10-K for 2024 | approximately 1,770 | December 31, 2024 |
Job cuts, severance and restructuring
Our summaryExited spine products activities in China, recording charges for severance of terminated employees, legal charges, inventory write-downs and accelerated depreciation.
Word for word“During the fourth quarter of 2022, we recorded charges of $4.9 million related to severance of terminated employees, legal charges, inventory write-downs and accelerated depreciation of fixed assets as we wind down our spine products operations in China.” 10-K for 2022
Our summaryInitiated a restructuring plan to reduce costs and optimize the global footprint, mainly in the spine segment.
Word for word“In June 2022, we initiated a restructuring plan with the objective of reducing costs and optimizing our global footprint.” 10-K for 2022
Our summaryRecorded restructuring charges primarily for employee termination benefits under the 2022 plan and Zimmer Biomet restructuring plans, with employee termination benefit additions of $5.1 million in 2022.
Word for word“We recognized expenses of $11.4 million (which includes charges of $0.7 million related to the exit of distributor relationships in China), $3.3 million and $9.7 million in 2022, 2021 and 2020, respectively, related to these restructuring plans.” 10-K for 2022
Our summaryZimVie began restructuring activities to better position the organization for future success, and in July 2023 continued these activities and took additional actions aimed at reducing the global cost structure and streamlining the organization.
Word for word“During the year ended December 31, 2023, we recorded pre-tax charges o f $ 4.2 million relat ed to these actions.” 10-K for 2023
Our summaryZimVie's June 2022 restructuring plan to reduce costs and optimize its global footprint produced further charges in 2023, mainly for employee termination benefits.
Word for word“During the years ended December 31, 2023 and 2022, actions under this plan resulted in pre-tax charges of $ 0.3 million and $ 2.5 million, respectively.” 10-K for 2023
Our summarySummary of restructuring liabilities showing employee termination benefit additions, cash payments and ending balance during 2023.
Word for word“Additions 2,811 1,679 4,490 Cash payments ( 3,321 ) ( 1,679 ) ( 5,000 ) Balance, December 31, 2023 $ 947 $ — $ 947 76 19.” 10-K for 2023
Our summaryThe company started a restructuring program to better organize the business around its dental segment after the spine segment was disposed of, with employee termination benefits as the main cost.
Word for word“During the year ended December 31, 2024, we recorded pre-tax charges of $ 5.5 million related to these activities.” 10-K for 2024
Our summaryThe company began restructuring in 2023 to cut its global cost structure and streamline its organization across all regions, functions and levels.
Word for word“These activities had the objective of reducing our global cost structure and streamlining our organizational infrastructure across all regions, functions and levels.” 10-K for 2024
Our summaryThe company started a 2022 restructuring plan to reduce costs and optimize its global footprint, mostly involving employee termination benefits, and it was substantially complete by mid-2024.
Word for word“We have incurred pre-tax charges of $ 3.0 million from inception through December 31, 2024.” 10-K for 2024
| Fiscal year ended | Restructuring charges |
|---|---|
| 2019-12-31 | $1.8 million |
| 2020-12-31 | $9.7 million |
| 2021-12-31 | $339,000 |
| 2022-12-31 | $2.6 million |
| 2023-12-31 | $4.5 million |
| 2024-12-31 | $5.7 million |
ZimVie 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 ZimVie’s annual reports (10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2025-02-26. 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.