Zions Bancorporation, National Association layoffs, on the record
Every job cut, severance charge and restructuring Zions Bancorporation, National Association reported in its annual reports, 2023 to 2025, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 9,679 full-time equivalent employees | December 31, 2023 |
| 10-K for 2024 | 9,406 full-time equivalent employees | December 31, 2024 |
| 10-K for 2025 | 9,195 full-time equivalent employees | At December 31, 2025 |
Job cuts, severance and restructuring
Our summaryCompany reported a decrease in full-time equivalent employees, about 3% lower than the prior year.
Word for word“We had 9,679 full-time equivalent employees at December 31, 2023, a decrease of approximately 3% relative to the prior year.” 10-K for 2023
Our summaryCompany recorded an increase in severance expense within salaries and employee benefits.
Word for word“Total salaries and benefits expense increased $40 million, or 3%, primarily due to the ongoing impact of inflationary and competitive labor market pressures on wages and benefits, a decline in deferred salaries related to fewer loan originations and reduced software development activities, and an increase in severance expense.” 10-K for 2023
Our summaryCompany made organizational restructurings and efficiency initiatives as part of changes to improve operating efficiency.
Word for word“We have made, and are continuing to make, significant changes that include, among other things, organizational restructurings, efficiency initiatives, and replacement or upgrades of technology systems to improve our operating efficiency and control environment.” 10-K for 2023
Our summaryCompany reported a decrease in full-time equivalent employees versus the prior year, with a note of the change.
Word for word“We had 9,406 full-time equivalent employees at December 31, 2024, a decrease of approximately 3% relative to the prior year.” 10-K for 2024
Our summaryCompany recorded severance costs as an adjustment to noninterest expense in the efficiency ratio reconciliation.
Word for word“Severance costs 3 14 1 Other real estate expense, net (1) — 1 Amortization of core deposit and other intangibles 7 6 1 Restructuring costs — 1 — SBIC investment success fee accrual 1 1 — (1) FDIC special assessment 11 90 — Total adjustments (b) 21 111 2 Adjusted noninterest expense (non-GAAP) (c)=(a-b) $ 2,025 $ 1,986 $ 1,876 Net interest income (GAAP) (d) $ 2,430 $ 2,438 $ 2,520 Fully taxable-equivalent adjustments (e) 45 41 37 Taxable-equivalent net interest income (non-GAAP) (f)=(d+e) 2,475 2,479 2,557 Noninterest income (GAAP) (g) 700 677 632 Combined income (non-GAAP) (h)=(f+g) 3,175 3,156 3,189 Adjustments: Fair value and nonhedge derivative gain (loss) — (4) 16 Securities gains (losses), net 19 4 (15) Total adjustments (i) 19 — 1 Adjusted taxable-equivalent revenue (non-GAAP) (j)=(h-i) $ 3,156 $ 3,156 $ 3,188 Pre-provision net revenue (non-GAAP) (h)-(a) $ 1,129 $ 1,059 $ 1,311 Adjusted pre-provision net revenue (non-GAAP) (j-c) 1,131 1,170 1,312 Efficiency ratio (non-GAAP) 2 (c/j) 64.2 % 62.9 % 58.8 %” 10-K for 2024
Our summaryCompany recorded restructuring costs as an adjustment to noninterest expense in the efficiency ratio reconciliation.
Word for word“Restructuring costs — 1 — SBIC investment success fee accrual 1 1 — (1) FDIC special assessment 11 90 — Total adjustments (b) 21 111 2 Adjusted noninterest expense (non-GAAP) (c)=(a-b) $ 2,025 $ 1,986 $ 1,876 Net interest income (GAAP) (d) $ 2,430 $ 2,438 $ 2,520 Fully taxable-equivalent adjustments (e) 45 41 37 Taxable-equivalent net interest income (non-GAAP) (f)=(d+e) 2,475 2,479 2,557 Noninterest income (GAAP) (g) 700 677 632 Combined income (non-GAAP) (h)=(f+g) 3,175 3,156 3,189 Adjustments: Fair value and nonhedge derivative gain (loss) — (4) 16 Securities gains (losses), net 19 4 (15) Total adjustments (i) 19 — 1 Adjusted taxable-equivalent revenue (non-GAAP) (j)=(h-i) $ 3,156 $ 3,156 $ 3,188 Pre-provision net revenue (non-GAAP) (h)-(a) $ 1,129 $ 1,059 $ 1,311 Adjusted pre-provision net revenue (non-GAAP) (j-c) 1,131 1,170 1,312 Efficiency ratio (non-GAAP) 2 (c/j) 64.2 % 62.9 % 58.8 %” 10-K for 2024
Our summaryCompany said it has implemented and is continuing to implement organizational restructurings and efficiency initiatives.
Word for word“We have implemented and are continuing to implement significant changes, including organizational restructurings, efficiency initiatives, and the replacement or upgrading of technology systems to improve our operating efficiency and control environment.” 10-K for 2024
Our summarySalaries and benefits expense rose in 2025, partly because of higher severance costs, while the workforce shrank.
Word for word“Salaries and employee benefits expense increased $63 million, or 5%, primarily due to increased incentive compensation accruals reflecting improved profitability, along with higher base salaries and severance costs.” 10-K for 2025
Our summaryThe company is pursuing strategic initiatives that include organizational restructuring and efficiency enhancements, and these are still ongoing.
Word for word“These initiatives include organizational restructuring, efficiency enhancements, and the replacement or upgrading of technology systems.” 10-K for 2025
Zions Bancorporation, National Association 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 Zions Bancorporation, National Association’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.