Synchrony Financial: profitable every year.

Has Synchrony Financial had layoffs?

Headcount, as reported

Job cuts, severance and restructuring

1. Employee costs rose partly due to $43 million of restructuring costs related to a voluntary early retirement program. year ended December 31, 2023 · Cost: $43 million of restructuring costs

   “Employee costs increased by $203 million, or 12.1%, for the year ended December 31, 2023, primarily attributable to an increase in headcount driven by business growth, higher benefit costs and $43 million of restructuring costs related to a voluntary early retirement program.” 10-K for 2023

2. Noted that other expense decreased partly because of lower prior year restructuring costs. year ended December 31, 2024

   “Other expense increased by $81 million, or 1.7%, for the year ended December 31, 2024, primarily driven by technology investments, costs related to the Ally Lending acquisition and preparatory expenses related to the late fee rule change, partially offset by lower operational losses and prior year restructuring costs.” 10-K for 2024

3. Employee costs rose in 2025, driven in part by restructuring costs for a voluntary early retirement program. for the year ended December 31, 2025 · Cost: $221 million

   “Employee costs increased by $221 million, or 11.8%, for the year ended December 31, 2025, primarily driven by restructuring costs related to a voluntary early retirement program, higher variable compensation, as well as changes in headcount mix to support technology investments and higher medical benefit costs.” 10-K for 2025

Synchrony Financial filed 1 restructuring notice (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.

What has Synchrony Financial acquired?

Deals its annual reports describe

Deal filings since 2016

• 2022-04-04 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement

Who are Synchrony Financial's competitors?

Who Synchrony Financial names

In its own words

1. Affirm, Afterpay, Klarna

   “Non-bank providers of pay-over-time solutions, such as Affirm, Afterpay, Klarna and others, extend consumer credit-like offerings but do not face the same restrictions, such as capital requirements and other regulatory requirements, as banks which also could place us at a competitive disadvantage.” 10-K for 2025

2. Ally Financial, Barclays, Capital One, CIT, Citi, E-Trade, Marcus by Goldman Sachs

   “We compete for deposits with traditional banks, including separately branded direct banking platforms of traditional banks, and other banks that have direct banking models similar to ours, such as Ally Financial, American Express, Barclays, Capital One, CIT, Citi, E-Trade and Marcus by Goldman Sachs.” 10-K for 2025

3. American Express, Bread Financial, Capital One/Discover, Citibank, JPMorgan Chase, TD Bank, Wells Fargo

   “Our primary competitors for partners include major financial institutions such as American Express, Bread Financial, Capital One/Discover, JPMorgan Chase, Citibank, TD Bank and Wells Fargo, as well as, financial technology companies, point-of-sale lending focused companies and potential partners’ own in-house financing capabilities.” 10-K for 2025

What are Synchrony Financial's subsidiaries?

Subsidiaries it lists

From Exhibit 21 of the 10-K for 2025. Companies must list their significant subsidiaries there and may leave out smaller ones, so this is the company’s own list, not every entity it owns.