Layoffs in 2023: what 376 companies told the SEC
Every 2023 job cut that companies filing with the SEC put on the record: 167 restructuring notices, the cuts their annual reports describe, and the severance they reported, each quoted and linked to the filing.
Restructuring notices filed in 2023
A company files a restructuring notice (Form 8-K, Item 2.05) when it commits to a cut it judges material. 167 were filed in 2023, newest first.
The cuts, in the companies’ own words
Job cuts that annual reports place in 2023, and the severance and positions eliminated that companies reported for fiscal years ending in 2023. Largest stated cut first.
Telecom Argentina
Our summaryIn 2023, the company reported lower severance payments alongside a headcount reduction of 2.1%.
Word for word“The decrease was mainly due to lower severance payments and a reduction in headcount of 2.1%, amounting to 21,262 employees as of December 31, 2023, and, partially offset by increases in salaries agreed by the Company with several trade unions for unionized employees, and for non-unionized employees, together with related social security charges.” 20-F for 2024
Microsoft
Our summaryThe company cut its overall workforce by about 10,000 jobs, which is under 5% of its employees, tied to the second quarter charge.
Word for word“First, we reduced our overall workforce by approximately 10,000 jobs through the third quarter of fiscal year 2023 related to the Q2 charge, which represents less than 5% of our total employee base.” 10-K for 2023
Wayfair
Our summaryWayfair announced a January 2023 update to its cost efficiency plan that included a workforce reduction; it recorded charges mainly for employee severance and benefits.
Word for word“In January 2023, Wayfair announced an update to the Company's cost efficiency plan, including a workforce reduction involving approximately 1,750 employees.” 10-K for 2023
Our summaryWayfair recorded restructuring charges for the January 2023 workforce reductions, consisting primarily of one-time employee severance and benefit costs.
Word for word“During the year ended December 31, 2023, we incurred $65 million of charges consisting primarily of one-time employee severance and benefit costs associated with the January 2023 workforce reductions.” 10-K for 2023
Hasbro
Our summaryAnnounced intention to eliminate about 1,000 positions from its global workforce under the Operational Excellence Program (Initial Actions).
Word for word“As part of this program, in January 2023, the Company announced the intention to eliminate approximately 1,000 positions from its global workforce, or approximately 15% of global full-time employees (“Initial Actions”).” 10-K for 2023
Our summaryAnnounced additional strategic steps including further headcount reductions under the Operational Excellence Program and outsourcing of certain corporate functions to a third-party provider.
Word for word“In December 2023, following a further review of the Company’s cost structure and organizational design, the Company announced additional strategic steps to position the business for future growth, including additional headcount reductions under the Operational Excellence Program, and a revised organizational structure whereby aspects of certain corporate functions are anticipated to be supported by a third-party outsourcing provider.” 10-K for 2023
Our summaryReduced headcount, with lower compensation costs in the Corporate and Other segment reflecting headcount reductions.
Word for word“Improved operating results in 2023 reflects lower administrative expenses, including lower compensation costs associated with headcount reductions, partially offset by Operational Excellence program related consultant and transformation office expenses of $35.3 million, severance and other employee charges of $34.2 million, and charges of $35.1 million associated with the non-core eOne Film and TV business sale process as well as higher marketing and sales costs compared to 2022.” 10-K for 2023
Gerdau
Our summaryBy the end of 2023, approximately 900 employees were laid off as the workforce was aligned with production volume.
Word for word“By the end of 2023, aligning the workforce size with the prevailing production volume, approximately 900 employees were laid off from the Company.” 20-F for 2023
Opendoor Technologies
Our summaryCompany initiated workforce reductions in 2023 affecting about 680 employees, with severance and termination benefits.
Word for word“In 2023, the Company initiated workforce reductions, impacting approximately 680 employees.” 10-K for 2024
Ingram Micro Holding
Our summaryIn Fiscal Year 2023 the company started a global restructuring plan with staffing changes and a headcount reduction, mostly in North America.
Word for word“In Fiscal Year 2023, as a result of changing global and local market conditions, we initiated a global restructuring plan which resulted in organizational and staffing changes, including a headcount reduction of 628 employees, primarily in our North American segment.” 10-K for 2025
F5
Our summaryIn the third quarter of fiscal 2023 F5 started a restructuring plan that included a reduction in force, with the company's Note 13 putting the affected headcount at about 620 employees.
Word for word“In the third quarter of fiscal 2023, the Company initiated a restructuring plan to better align strategic and financial objectives, optimize operations, and drive efficiencies for long-term growth and profitability, including a reduction in force affecting approximately 620 employees, or approximately 9 % of the Company's global workforce as of April 19, 2023.” 10-K for 2023
Happen
Our summaryTotal headcount fell during 2023 mainly because of the workforce reduction plans implemented during the year.
Word for word“In 2023, our total headcount decreased by 560 employees compared to the prior year, primarily due to the workforce reduction plans we implemented during the year.” 10-K for 2023
ContextLogic
Our summaryThe company cut about 400 employees, roughly half its global workforce, in two rounds of layoffs in 2023.
Word for word“In January 2023 and August 2023, we conducted workforce reductions of approximately 400 employees, representing approximately one half of our then global workforce (“2023 RIFs”).” 10-K for 2024
Qualtrics International
Our summaryThe company committed to a plan to eliminate about 270 roles worldwide that do not fit its top priorities for 2023.
Word for word“In January 2023, the Company committed to a plan to eliminate approximately 270 roles across the Company globally that do not align with the Company’s highest priorities for 2023.” 10-K for 2022
GoDaddy
Our summaryIn February 2023, GoDaddy announced a restructuring plan with a reduction in force of about 550 employees, about 8% of its workforce at the time, plus a commitment to sell certain assets.
Word for word“In February 2023, we announced a restructuring plan to reduce future operating expenses and improve cash flows through a combination of a reduction in force and a commitment to sell certain assets.” 10-K for 2023
Our summaryIn the third quarter of 2023, GoDaddy implemented additional restructuring activities through a reduction in force.
Word for word“In the third quarter of 2023, we implemented additional restructuring activities to further reduce operating expenses and improve cash flows through a reduction in force, which impacted approximately 250 employees.” 10-K for 2023
Criteo
Our summaryAnnounced planned layoffs to reduce company size by approximately 250 employees across the Retail Media and Performance Media segments under the 2023 Restructuring Plan.
Word for word“In February 2023, we announced planned layoffs to reduce our company size by approximately 250 employees across the Retail Media and Performance Media segments ("2023 Restructuring Plan").” 10-K for 2024
Teradyne
Our summaryRecorded severance charges tied to headcount reductions of 215 people, mainly in Semiconductor Test and Robotics, including a voluntary early retirement program.
Word for word“During the year ended December 31, 2023, we recorded a charge of $14.7 million of severance charges related to headcount reductions of 215 people primarily in Semiconductor Test and Robotics, which included charges related to a voluntary early retirement program for employees meeting certain conditions, $3.1 million of acquisition and divestiture expenses related to the Technoprobe transaction, a $1.5 million contract termination charge, and a charge of $1.1 million for an increase in environmental liabilities.” 10-K for 2024
MSA Safety
Our summaryThe company eliminated 152 positions in response to the changing business environment as part of its restructuring programs.
Word for word“For example, in 2023, 152 positions were eliminated in response to the changing business environment.” 10-K for 2023
Irobot
Our summaryFurther reduced workforce by about 85 employees in the first quarter of fiscal 2023, bringing total reduction since Q2 fiscal 2022 to 325 employees.
Word for word“During the first quarter of fiscal 2023, we further reduced our workforce by approximately 85 employees.” 10-K for 2023
Vmware
Our summaryVMware approved a plan to cease business operations in Russia, eliminating about 80 positions.
Word for word“As a result of this action, approximately 80 positions were eliminated during the second quarter of fiscal 2023.” 10-K for 2023
California Resources
Our summaryUndertook initiatives to streamline operations and made organizational changes that reduced headcount by about 75 employees.
Word for word“In 2023, we undertook initiatives to streamline our operations and implemented organizational changes that resulted in a headcount reduction of approximately 75 employees.” 10-K for 2023
Alkermes plc.
Our summaryImplemented a restructuring plan that eliminated about 60 positions across the company, tied to its ongoing review of operations and the Separation.
Word for word“In July 2023 , in conjunction with the Company’s ongoing review of operations and the Separation, the Company implemented a restructuring plan, which included the elimination of approximately 60 positions across the Company (the “Restructuring”).” 10-K for 2023
Enpro
Our summaryThe company cut administrative and manufacturing positions as part of its restructuring in 2025, 2024 and 2023.
Word for word“Workforce reductions associated with our restructuring activities in 2025, 2024, and 2023 totaled 35, 77, and 72 administrative and manufacturing positions, respectively.” 10-K for 2025
LendingTree
Our summaryCommitted to a workforce reduction plan to cut operating costs, eliminating about 13% of the workforce, and shut the LendingTree customer call center and Medicare insurance agency operations within QuoteWizard.
Word for word“On March 24, 2023, we committed to a workforce reduction plan (the “Reduction Plan”), to reduce operating costs, which included the elimination of approximately 13% of the Company’s workforce.” 10-K for 2023
Our summaryInitiated workforce reductions of 14 employees.
Word for word“During September 2023, the Company initiated workforce reductions of 14 employees.” 10-K for 2023
Goodyear Tire & Rubber
Magnera
Oportun Financial
Our summaryThe filing refers to a reduction in force and other streamlining measures announced in 2023 and 2024 as a risk factor.
Word for word“developments relating to our reduction in force and other streamlining measures announced in 2023 and 2024; and • other risks and uncertainties described in these risk factors.” 10-K for 2024
Clover Health Investments
Emergent BioSolutions
Fuller H B
Gentherm
Illumina
Our summaryIllumina carried out a cost reduction program in 2023 that included workforce reductions, consolidating some facilities, and other steps to cut expenses.
Word for word“In 2023, we implemented a cost reduction initiative that included workforce reductions, consolidation of certain facilities, and other actions to reduce expenses as part of a plan to realign operating expenses while maintaining focus on our innovation roadmap and sustainable long-term growth.” 10-K for 2025
Informatica
Our summaryThe company announced the November Plan in 2023, cutting its workforce and reducing its global real estate footprint.
Word for word“For example, in January 2023, we announced a plan to reduce our workforce by approximately 450 employees, representing approximately 7% of our then-current global workforce (the "January Plan"), and in November 2023, we announced a plan to reduce our workforce by approximately 500 employees, representing approximately 10% of our then-current global workforce, and reduce our global real estate footprint (the "November Plan").” 10-K for 2024
Korn Ferry
Our summaryLaunched a workforce restructuring plan to align headcount with business conditions through position eliminations, affecting about eight percent of employees.
Word for word“Performance Highlights In light of the challenging macroeconomic business environment arising from persistent inflationary pressures, rising interest rates, and global economic and geopolitical uncertainty, which we expected to result in near-term slowing or declines in fee revenue, on October 23, 2023, we initiated a plan (the "Plan") intended to align our workforce with our current business realities through position eliminations, which affected approximately eight percent of the Company's employees.” 10-K for 2024
Newell Brands
Olin
Omnicell
Our summaryCompany continued the 2022 Plan in early 2023, further reducing headcount across many functions and reducing its real estate footprint.
Word for word“During the first quarter of 2023, as a result of continued exploration of expense containment measures, the Company committed to further reduce its headcount across many of its functions as a continuation of the 2022 Plan, and also committed to reduce its real estate footprint to align with its broader hybrid work strategy and in an effort to further reduce costs.” 10-K for 2023
PTC Therapeutics
Our summaryThe company reduced its workforce in 2023 as part of a strategic pipeline prioritization, and later discontinued preclinical and early research programs in its gene therapy platform, which changed payroll, benefits and share-based compensation expenses.
Word for word“For the year ended December 31, 2025, compared to the years ended December 31, 2024 and 2023, the change in payroll, benefits, and share-based stock compensation expenses primarily relates to our reduction in workforce in connection with our strategic pipeline prioritization in 2023 and discontinuation of our preclinical and early research programs in our gene therapy platform.” 10-K for 2025
Our summarySelling, general and administrative expense fell in 2024 compared with 2023, which the company attributes to lower employee costs after the 2023 workforce reduction.
Word for word“The decrease reflected lower employee costs as a result of the reduction in workforce in 2023.” 10-K for 2025
Pegasystems
Our summaryCompany reported a decrease in selling and marketing compensation due to reduced headcount as it optimized its go-to-market strategy.
Word for word“The decrease in selling and marketing in 2023 was primarily due to a decrease in compensation and benefits of $59.5 million due to reduced headcount as we optimize our go-to-market strategy.” 10-K for 2023
Roku
Our summaryRestructuring plan in 2023 that included a workforce reduction, limited new hires, office consolidation and a content portfolio review.
Word for word“During the year ended December 31, 2023, the Company implemented additional measures including consolidating its office space utilization, performing a strategic review of its content portfolio, reducing outside services expenses, and slowing its year-over-year headcount expense growth rate through a workforce reduction and limiting new hires, among other measures.” 10-K for 2024
Sealed Air
Stitch Fix
Sunpower
Trinseo
Twilio
Unity Software
Our summaryBegan workforce reductions and reduced the number of corporate offices as part of restructuring, with restructuring costs recorded in 2023.
Word for word“We incurred restructuring and reorganization expenses of approximately $70 million for the year ended December 31, 2023, of which $52 million related to reductions in our workforce, largely within research and development expense, and $18 million related to our intent to exit certain leased facilities, primarily impairment charges on operating lease assets in general and administrative expense.” 10-K for 2024
Utz Brands
Acco Brands
Affirm Holdings
Our summaryCompany took cost-saving measures including a reduction of its workforce in response to macroeconomic conditions and business prioritization.
Word for word“For example, to manage operating expenses in response to current macroeconomic conditions and ongoing business prioritization efforts, we took certain cost-saving measures, including a reduction of our workforce, in February 2023.” 10-K for 2024
Alcoa
Alight, Inc. / Delaware
Apellis Pharmaceuticals
Our summaryAnnounced a corporate restructuring and cost savings initiative that included a workforce reduction.
Word for word“In August 2023, we announced that we were conducting a corporate restructuring and cost savings initiatives involving a headcount reduction of approximately 225 employees, or approximately 25% of our then current workforce.” 10-K for 2023
Our summaryCompleted the workforce reduction, which was substantially finished in the third quarter of 2023.
Word for word“Our workforce reduction was substantially completed in the three months ended September 30, 2023.” 10-K for 2023
Bakkt
Bally's
Broadcom
CNH Industrial
Chemours
Childrens Place
Our summaryThe company voluntarily entered into an early termination of its corporate office lease and implemented a workforce reduction as part of its digital-first restructuring.
Word for word“In support of the Company's ongoing structural transformation from a legacy store operating model to a digital-first retailer, during the second quarter of Fiscal 2023, the Company voluntarily entered into an early termination of its corporate office lease and implemented a workforce reduction.” 10-K for 2024
Our summaryThe company recorded restructuring costs for employee-related costs, lease termination costs and professional fees tied to the lease termination, the move from the TODC and workforce reductions.
Word for word“As a result of these strategic actions associated with the voluntary early termination of its corporate office lease, the move from the TODC, and workforce reductions, the Company incurred non-operating charges of $ 11.8 million in restructuring costs during Fiscal 2023 on a pretax basis, summarized in the following table: Fiscal Years Ended February 3, 2024 January 28, 2023 (in thousands) Employee-related costs $ 7,382 $ — Lease termination costs (1) 4,158 — Professional fees 268 — Total restructuring costs (2) $ 11,808 $ — ___________________________________________ (1) Includes non-cash charges related to accelerated depreciation on certain assets in the corporate office over the reduced term, amounting to $ 1.8 million during Fiscal 2023.” 10-K for 2024
Cimpress
Our summaryCimpress carried out March 2023 restructuring and cost reduction actions that reduced headcount, which lowered cash compensation costs in fiscal 2024.
Word for word“These increases were partially offset by lower cash compensation costs of $6.9 million due to cost savings resulting from the March 2023 restructuring actions that reduced headcount.” 10-K for 2024
Coherent
Our summaryThe company said the restructuring plans have cost about $370 million in pre-tax charges over fiscal 2023 to 2026, mainly from workforce reduction and facility consolidation.
Word for word“As a result of the Restructuring Plans, we have incurred approximately $370 million of pre-tax charges in fiscal years 2023 to 2026 primarily as a result of the reduction in force and facility consolidations related to the closure and relocation of sites.” 10-K for 2026
Coinbase
Our summaryCoinbase reduced its workforce in January 2023 to cut operating costs and improve organizational efficiency.
Word for word“Restructuring expense was $142.6 million for the year ended December 31, 2023 and was driven by separation pay, stock-based compensation expense relating to the acceleration of the vesting of outstanding equity awards in accordance with the terms of such awards, and other personnel costs related to the workforce reduction in January 2023.” 10-K for 2023
Compass
Our summaryCompany took workforce reductions in June and September 2022 and January 2023 as cost-saving measures.
Word for word“For example, in response to macroeconomic conditions impacting our industry, we took certain cost-saving measures, such as reductions of our workforce in June and September 2022 and January 2023.” 10-K for 2023
Our summaryCompany implemented a further workforce reduction and scaled down its New York administrative office to reduce occupancy costs.
Word for word“During the year ended December 31, 2023, we implemented a further workforce reduction and took actions to reduce our occupancy costs, the most significant being the scaling down of our New York administrative office.” 10-K for 2023
Confluent
Corteva
Crown Castle
Our summaryThe restructuring charges for 2023 were broken down into employee headcount reduction and office space consolidation amounts, with a liability remaining at year end.
Word for word“The following table summarizes the activities related to the restructuring for year ended December 31, 2023: Employee Headcount Reduction Office Space Consolidation Total Charges $ 63 $ 22 $ 85 Payments ( 46 ) ( 4 ) ( 50 ) Non-cash items ( 1 ) ( 6 ) ( 7 ) Liability as of December 31, 2023 $ 16 $ 12 $ 28” 10-K for 2023
Dentsply Sirona
Docusign
Domtar
Dow
Dropbox
Our summaryAnnounced a reduction of its global workforce by about 16% in 2023 and incurred charges for severance and related costs.
Word for word“On April 27, 2023, the Company announced a reduction of its global workforce by approximately 16 % to streamline its team structure in support of its long-term growth and profitability objectives.” 10-K for 2025
Our summaryReported the total charges it incurred in 2023 for the workforce reduction, mostly cash severance, benefits and related costs.
Word for word“During the year ended December 31, 2023, the Company incurred $ 39.3 million in charges in connection with the reduction in workforce, primarily consisting of cash expenditures for severance payments, employee benefits and related costs.” 10-K for 2025
EXP OldCo Winddown
Our summaryThe company announced and carried out two phases of a workforce reduction in 2023.
Word for word“Restructuring Costs On July 14, 2023 and August 17, 2023, the Company announced and implemented respective phases of a workforce reduction.” 10-K for 2024
Our summaryThe company cut staff in its corporate office as part of its expense savings initiatives.
Word for word“The decrease was primarily driven by our expense savings initiatives, including reductions in marketing spend, store labor costs, and a reduction in force in our corporate office that was implemented during the third quarter of 2023, as well as lower long-term incentive compensation.” 10-K for 2024
Electronic Arts
Etsy
Our summaryReverb cut its workforce by about 13% in the fourth quarter of 2023.
Word for word“Additionally, in the fourth quarter of 2023 Reverb reduced its workforce by approximately 13 %.” 10-K for 2025
FMC
Global Business Travel Group
Groupon
Helen of Troy
Hubspot
Ingevity
International Paper
Itron
JELD-WEN Holding
Jabil
Our summaryCharges were recorded in fiscal 2023 for a headcount reduction to further optimize business activities.
Word for word“Charges recorded during the fiscal year ended August 31, 2023, related to headcount reduction to further optimize our business activities.” 10-K for 2024
Juniper Networks
Kaman
Kennametal
LAM Research
Our summaryAnnounced a restructuring plan consisting of a workforce reduction in January 2023.
Word for word“In January 2023, we announced that we were implementing a restructuring plan consisting of a workforce reduction, and that we anticipated undertaking, and may in the future undertake, additional business restructuring, realignment and transformation initiatives.” 10-K for 2024
Lucid
Our summaryAnnounced a 2023 restructuring plan to reduce operating expenses through a reduction in workforce; completed in the first quarter of 2024.
Word for word“On March 28, 2023, we announced a restructuring plan (the “2023 Restructuring Plan”) intended to reduce operating expenses in response to evolving business needs and productivity improvement through a reduction in workforce.” 10-K for 2024
MediaAlpha
Our summaryThe company carried out a reduction in force under its RIF Plan, paying severance to the terminated employees.
Word for word“Reduction in force costs for the year ended December 31, 2023 consist of $1.2 million of severance benefits provided to the terminated employees in connection with the RIF Plan.” 10-K for 2024
Nektar Therapeutics
Our summaryRecognized severance and benefit expense related to the 2023 Restructuring Plan.
Word for word“We recognized $7.9 million for severance and benefit expense in 2023 related to the 2023 Restructuring Plan.” 10-K for 2024
NetApp
NeueHealth
Novavax
Our summaryIn May 2023 the company announced a global restructuring and cost reduction plan that cut about 25% of its global workforce, including about 20% of full-time employees, with the rest being contractors and consultants.
Word for word“In May 2023, we announced a global restructuring and cost reduction plan. The planned workforce reduction included an approximately 25% reduction in our global workforce, comprised of an approximately 20% reduction in full-time Novavax employees and the remainder comprised of contractors and consultants.” 10-K for 2025
Payoneer Global
Our summaryInitiated a plan in the third quarter of 2023 to reduce the workforce by about 9 percent to enhance productivity and streamline the organization.
Word for word“During the third quarter of 2023, the Company initiated a plan to reduce its workforce by approximately 9 % (the “Plan”).” 10-K for 2023
Our summaryRecorded severance costs of $1.6 million for research and development employees under the workforce reduction plan.
Word for word“During the year ended December 31, 2023, we also incurred $1.6 million in severance related costs for research and development employees related to the workforce reduction plan discussed above.” 10-K for 2023
Our summaryRecorded severance costs of $2.0 million for sales and marketing employees under the workforce reduction plan.
Word for word“During the year ended December 31, 2023, we also incurred $2.0 million in severance related costs for sales and marketing employees related to the workforce reduction plan discussed above.” 10-K for 2023
Pfizer
Pinterest
Ryan Specialty Holdings
Sage Therapeutics
Salesforce
Our summaryAnnounced a restructuring plan to cut operating costs that reduced the workforce by about ten percent and cut office space in certain markets.
Word for word“For example, in January 2023, we announced a restructuring plan intended to reduce operating costs, improve operating margins and continue advancing our ongoing commitment to profitable growth which included a reduction of our workforce by approximately ten percent and office space reductions within certain markets.” 10-K for 2025
SentinelOne
Sonos
Steelcase
TE Connectivity
TPI Composites
TTM Technologies
Teads Holding
Our summaryAnnounced a 2023 global workforce reduction of about 10% to adjust to macroeconomic uncertainty and create operating efficiencies.
Word for word“On May 31, 2023, the Company announced a reduction in its global workforce of approximately 10 %, to adjust to the continued macroeconomic uncertainty, create additional operating efficiencies, and support the Company’s strategic growth and profitability objectives.” 10-K for 2024
Teladoc Health
Textron
Thoughtworks Holding
Our summaryThe company said it carried out restructuring actions in 2023, including a headcount reduction, to align its financial model and business with the market.
Word for word“During 2023, we undertook restructuring actions, including a headcount reduction, to better align our financial model and our business with the market.” 10-K for 2023
TransUnion
Upstart Holdings
Our summaryAnnounced a workforce reduction (January 2023 Plan) that terminated approximately 20% of the workforce and suspended development of a small business loan product.
Word for word“As part of the January 2023 Plan, the Company reduced its workforce by approximately 20 %, or 365 employees, and suspended development of its small business loan product.” 10-K for 2023
Vacasa
Valmont Industries
Viavi Solutions
Vir Biotechnology
Warner Music Group
Our summaryThe company announced a restructuring plan in March 2023, mainly cutting headcount; it is substantially complete.
Word for word“In March 2023, we announced a restructuring plan, (the “2023 Restructuring Plan”) intended to drive the evolution of the Company and position the Company for long-term growth, primarily through headcount reductions.” 10-K for 2025
Wheels Up Experience
Our summaryAnnounced a restructuring plan to streamline the organization and reduce headcount in areas not directly affecting operations or customers, excluding pilots, maintenance and operations-support personnel.
Word for word“In March 2023, we announced the adoption of a restructuring plan, which was intended to streamline the Company's organization and reduce headcount in areas of the business that do not directly impact the Company's operations or its customers' experience (the "Restructuring Plan").” 10-K for 2023
Our summaryAnnounced a restructuring plan to reduce headcount (excluding pilots, maintenance and operations-support personnel) as part of cost reductions and efficiency improvements.
Word for word“On March 1, 2023, we announced a restructuring plan (the "Restructuring Plan") as part of our previously announced focus on implementing cost reductions and improving the efficiency of our operations, which consisted of a reduction in headcount (excluding pilots, maintenance and operations-support personnel).” 10-K for 2023
Zscaler
Aaron's
Our summaryAnnounced a headcount reduction of store support center and Aaron's Business store oversight functions.
Word for word“In January 2023, the Company announced a headcount reduction of its store support center and Aaron's Business store oversight functions to more closely align with current business conditions resulting in the recognition of $1.8 million in severance charges during the first quarter of 2023.” 10-K for 2022
Acuity Inc. (de)
AdaptHealth
Adient
Advanced Energy Industries
Our summaryApproved a 2023 Plan to optimize and consolidate manufacturing and functional support groups, including a general reduction-in-force to align expenses to revenue levels.
Word for word“In 2023, we approved a plan intended to optimize and further consolidate our manufacturing operations and functional support groups as well as a general reduction-in-force to align our expenses to revenue levels (the "2023 Plan").” 10-K for 2024
Air Products & Chemicals
Akamai Technologies
Our summaryIn the first quarter of 2023, management committed to restructuring certain parts of the company, including reducing headcount, to prioritize investments in the fastest growing areas of the business.
Word for word“During the first quarter of 2023, management committed to an action to restructure certain parts of the company, including reducing headcount, to enable it to prioritize investments in the fastest growing areas of the business.” 10-K for 2023
Ally Financial
Our summaryReduced headcount through selective workforce reductions, which drove the decrease in employees during 2023.
Word for word“The decrease in employees for the year ended December 31, 2023, was primarily attributable to selective workforce reductions.” 10-K for 2023
Alphabet (Google)
Our summaryAlphabet announced a reduction of its workforce and recorded employee severance and related charges for 2023.
Word for word“In January 2023, we announced a reduction of our workforce, and as a result we recorded employee severance and related charges of $2.1 billion for the year ended December 31, 2023.” 10-K for 2023
Our summaryAlphabet is running a company-wide program to re-engineer its cost base, which included the January 2023 workforce reduction and $2.1 billion of severance and related charges.
Word for word“As part of this program, in January 2023, we announced a reduction of our workforce.” 10-K for 2023
Amcor
Amdocs
American Tower
American Woodmark
Our summaryImplemented nationwide reductions in force in the third quarter of fiscal 2023, substantially completed in the fourth quarter, mainly severance and separation costs.
Word for word“In the third quarter of fiscal 2023, the Company implemented nationwide reductions in force, which were substantially completed in the fourth quarter of fiscal 2023.” 10-K for 2023
Americold Realty Trust
Applied Materials
Our summaryCompany reported lower headcount-related costs in fiscal 2023 as employees moved into open positions within Semiconductor Systems and Applied Global Services, which partly offset lower net sales in the Display and Adjacent Markets segment.
Word for word“Operating margin for fiscal 2023 decreased compared to fiscal 2022 primarily due to lower net sales, partially offset by a reduction in headcount related costs as headcount moved to open positions within Semiconductor Systems and Applied Global Services segments.” 10-K for 2023
Aramark
Arcbest
Our summaryABF Freight used its dynamic pricing option to fill empty capacity in a soft market, which reduced the need for employee furloughs or layoffs.
Word for word“In a softer market environment, such as the conditions we experienced in the first half of 2023, our dynamic pricing option allowed us to strategically fill empty capacity, enabling us to reduce the need for employee furloughs or layoffs and be better positioned for a market rebound of higher freight demand, as well as provide a more sustainable service offering by reducing “empty miles” (or the number of miles we move empty or near-empty equipment for repositioning purposes).” 10-K for 2023
ArcelorMittal
Our summaryIn Spain, a temporary layoff plan agreed in late 2023 because of market conditions was extended through 2024.
Word for word“In Spain, a temporary layoff plan was agreed upon in late 2023 due to market conditions and extended through 2024.” 20-F for 2024
Array Digital Infrastructure
Our summaryRecorded severance and related expenses tied to a reduction in workforce, included in System operations and SG&A expenses.
Word for word“Total operating expenses Total operating expenses in 2023 include $9 million of severance and related expenses associated with a reduction in workforce that was recorded in the first quarter of 2023.” 10-K for 2023
Arrow Electronics
Astec Industries
Avient
Our summaryThe company recorded charges for workforce reductions and plant closures during 2025, 2024 and 2023, driven by productivity initiatives and organizational changes.
Word for word“During the years ended December 31, 2025, 2024 and 2023, additional charges were recognized associated with workforce reductions and plant closures.” 10-K for 2025
Azek
Our summaryThe company recorded costs for workforce reductions in fiscal years 2024, 2023 and 2022, reported within other costs in its adjusted results.
Word for word“(5) Other costs reflect costs related to the Restatement of $5.9 million for fiscal year 2024, costs related to removal of dispensable equipment resulting from a modification of the Company's manufacturing process of $2.4 million for fiscal year 2024, reduction in workforce costs of $0.3 million, $0.5 million and $1.6 million for fiscal years 2024, 2023 and 2022, respectively, costs for legal expenses of $1.8 million, $0.3 million and $0.9 million for fiscal years 2024, 2023 and 2022, respectively, other costs of $0.7 million and $0.2 million for fiscal years 2024 and 2022, costs related to an incentive plan and other ancillary expenses associated with the initial public offering of $0.1 million for fiscal year 2022.” 10-K for 2024
BRC Group Holdings
Our summaryCost savings programs implemented in the second half of 2023 included a reduction in headcount, which lowered 2024 employee compensation costs in the Communications segment.
Word for word“The decrease in employee compensation and benefits and other expenses was primarily due to cost savings in 2024 resulting from the implementation of cost savings programs in the second half of 2023 that included a reduction in headcount and other operating expenses and sale of the Lingo carrier business in the third quarter of 2024.” 10-K for 2024
Baker Hughes
Our summaryCompany incurred additional costs related to a planned workforce reduction, primarily in OFSE.
Word for word“In the fourth quarter of 2023, we incurred additional costs related to a planned workforce reduction, primarily in OFSE.” 10-K for 2023
Bausch & Lomb
Belden
Benchmark Electronics
Our summaryThe company recognized restructuring charges in 2023 tied to closing its Moorpark, California site and other capacity reductions and workforce reductions across regions.
Word for word“During 2023, we recognized $7.3 million of restructuring charges primarily related to the previously announced closure of our site in Moorpark, California in the Americas, and other smaller activities involving capacity reductions and reductions in workforce in certain facilities across various regions.” 10-K for 2023
Blackbaud
Our summaryTargeted workforce reductions in Q4 2022 and Q1 2023 reduced compensation costs in cost of one-time services and other, with employee severance decreasing.
Word for word“Decrease in compensation costs of $7.9 million primarily related to our targeted workforce reductions during the fourth quarter of 2022 and first quarter of 2023 and a continued shift in resources historically supporting one-time services and other towards recurring revenue” 10-K for 2023
Block
Bloom Energy
BrightView Holdings
Brinker International
Bristol Myers Squibb
C. H. Robinson Worldwide
Our summaryContinued the 2022 Restructuring Program, recording additional charges mainly for workforce reductions to align the workforce with digital transformation and productivity initiatives.
Word for word“In 2023, we recognized additional restructuring charges of $ 17.5 million, primarily related to workforce reductions.” 10-K for 2023
CME
Our summaryReduced the workforce by 3% of employees, which drove higher employee separation and restructuring costs.
Word for word“Employee separation and restructuring costs increased year over year largely due to a reduction in force of 3% of employees during 2023.” 10-K for 2023
CVS Health
Cadence Design Systems
Our summaryCadence initiated a restructuring plan (the 2023 Restructuring Plan) that included severance and termination benefits tied to headcount reductions, plus facility-related costs.
Word for word“Most recently, in August 2023, Cadence initiated a restructuring plan (the "2023 Restructuring Plan") and incurred costs comprised of severance payments and termination benefits related to headcount reductions and costs related to impacted facilities.” 10-K for 2023
Cano Health
Our summaryIn the third quarter of 2023 the company cut about 21% of its workforce as part of a restructuring plan, partly from exiting markets and partly from reorganizing.
Word for word“In connection with its restructuring plan, in the third quarter of 2023, the Company reduced staffing by approximately 842 employees, or 21% of its workforce.” 10-K for 2023
Cardinal Health
Cencora
Our summaryIn fiscal 2023 the company recorded restructuring and severance costs, mainly for workforce reductions in both of its reportable segments.
Word for word“Restructuring and employee severance costs in fiscal 2023 primarily included expenses incurred in connection with workforce reductions in both of the Company’s reportable segments.” 10-K for 2025
Charles River Laboratories International
Our summaryCompany reduced its total headcount through restructuring initiatives that reduce staffing levels to match demand.
Word for word“We have reduced our total headcount by approximately 8% since the end of 2023.” 10-K for 2024
Chart Industries
Cirrus Logic
Our summaryAnnounced a workforce reduction of about 5 percent of its global employees, taken in response to market conditions and a delayed new product.
Word for word“On July 12, 2023, during the second quarter of fiscal year 2024, the Company announced a workforce reduction of approximately 5 % of its global employees.” 10-K for 2024
Clarivate
Our summaryApproved a Segment Optimization Program to streamline operations and cut costs, with the main savings from a reduction in workforce.
Word for word“During the second quarter of 2023, we approved a restructuring plan to streamline operations within targeted areas of the Company to reduce operational costs, with the primary cost savings driver being from a reduction in workforce.” 10-K for 2023
Commvault Systems
Companhia de Saneamento Basico do Estado de São Paulo-sabesp
Our summaryCompany ran an Incentivized Dismissal Program (PDI) to reduce its workforce, with a provision recorded for compensation to participating employees.
Word for word“In June 2023, the Company implemented the Incentivized Dismissal Program (PDI or Program) to amicably reduce the workforce and provide gains in efficiency, increase of competitiveness, and optimization of costs (further details in Note 21 to the Annual Financial Statements as of December 31, 2023).” 20-F for 2024
Compass Minerals International
Our summaryThe company recorded severance and related charges for reductions in workforce, changes to executive leadership, and restructuring costs tied to ending its lithium development project, as part of aligning its cost structure to business needs.
Word for word“(e) The Company continued to take steps to align its cost structure to its current business needs. These initiatives impacted Corporate and Other operating results and resulted in net severance and related charges, excluding stock-based compensation forfeitures, for reductions in workforce, changes to executive leadership and additional restructuring costs related to the termination of the Company’s lithium development project recorded in Other operating (income) expense of $ 4.3 million, $ 15.8 million and $ 5.5 million for the fiscal years ended September 30, 2025, September 30, 2024 and September 30, 2023, respectively.” 10-K for 2025
Conns
Consolidated Communications Holdings
Our summaryThe company recognized severance costs in 2023 tied to its cost savings plan and workforce reduction.
Word for word“In connection with the cost savings initiative plan and reduction in workforce, we recognized severance costs of $17.4 million in 2023.” 10-K for 2023
Container Store Group
Cooper-Standard
Our summaryRestructuring expense in 2023 primarily consisted of employee separation costs tied to workforce reduction initiatives, plus plant closures in Asia Pacific, Europe and North America.
Word for word“Restructuring expense for the year ended December 31, 2023 primarily consisted of employee separation costs related to workforce reduction initiatives aimed at optimizing the Company’s cost structure.” 10-K for 2024
Corning
Coterra Energy
Our summaryCompany recognized restructuring costs primarily related to workforce reductions and associated severance benefits triggered by the Merger, totaling $12 million in 2023.
Word for word“During 2023, 2022 and 2021, the Company recognized $ 12 million, $ 52 million and $ 44 million, respectively, of restructuring costs that are primarily related to workforce reductions and associated severance benefits that were triggered by the Merger.” 10-K for 2023
Cricut
Cushman & Wakefield
Our summaryIn 2023 the company took cost savings initiatives including a reduction in headcount across select roles, and 2024 severance and employment-related costs decreased by $3.0 million versus 2023.
Word for word“In 2023, the Company actioned certain cost savings initiatives, including a reduction in headcount across select roles to help optimize our workforce given the challenging macroeconomic conditions and operating environment, as well as property lease rationalizations.” 10-K for 2024
CyberArk Software
Delek US Holdings
Dell
Our summaryDell recorded severance expense tied to workforce reduction activities in Fiscal 2025, 2024 and 2023.
Word for word“During Fiscal 2025, Fiscal 2024, and Fiscal 2023, we recognized $0.7 billion, $0.6 billion, and $0.5 billion, respectively, of severance expense related to workforce reduction activities.” 10-K for 2025
Designer Brands
Distribution Solutions Group
Our summaryThe company recorded severance expense from actions taken in 2023 and 2022 that were not part of a formal restructuring plan, along with acquisition related retention expenses for the Hisco Transaction.
Word for word“(2) Includes severance expense from actions taken in 2023 and 2022 not related to a formal restructuring plan and acquisition related retention expenses for the Hisco Transaction.” 10-K for 2023
Dolby Laboratories
Our summaryIn June 2023, Dolby implemented a focused restructuring plan consisting primarily of workforce reductions and facility consolidations, with severance offered to about 130 employees and a facility consolidation charge in New York, NY.
Word for word“In June 2023, we implemented a focused restructuring plan, primarily consisting of workforce reductions and facility consolidations to improve execution in alignment with our strategy and to reduce our cost structure through improved utilization of our global infrastructure.” 10-K for 2023
Donaldson
Donnelley Financial Solutions
Douglas Elliman
Our summaryThe company recorded restructuring expense tied to employee severance for staff reductions in the real estate brokerage segment restructuring plan.
Word for word“Employee severance and benefits expensed for the year ended December 31, 2023 relate entirely to the reduction in staff and are cash charges.” 10-K for 2023
Dover
Our summaryRestructuring charges of $49.9 million in 2023, primarily for headcount reductions and exit costs in the Clean Energy & Fueling, Engineered Products and Pumps & Process Solutions segments.
Word for word“During the year ended December 31, 2023, restructuring charges of $49.9 million were primarily related to headcount reductions and exit costs in the Clean Energy & Fueling, Engineered Products and Pumps & Process Solutions segments.” 10-K for 2024
Duke Energy
Dun & Bradstreet Holdings
Eastman Chemical
Edgewell Personal Care
Elbit Systems
Eli Lilly
Embecta
Envestnet
Our summaryThe company ran a reduction in force in 2023, along with a fourth quarter 2022 realignment, and recorded about $35.4 million of severance expense for 2023.
Word for word“In connection with the reduction in force initiative that began in the first quarter of 2023, as well as the fourth quarter 2022 organizational realignment, we incurred $35.4 million in total severance expense for the year ended December 31, 2023.” 10-K for 2023
Enviri
Enviva
Our summaryThe company first cut certain leadership employees, then finished a broader workforce reduction later in 2023.
Word for word“We completed a broader reduction in force during the third quarter of 2023.” 10-K for 2023
Esab
Evercore
Flowers Foods
Our summaryThe company recorded and paid reduction-in-force charges and relocation costs in Fiscal 2023 under the restructuring line item.
Word for word“Additionally, we recorded and paid reduction-in-force ("RIF") charges of $0.9 million and relocation costs of $1.0 million in Fiscal 2023.” 10-K for 2023
Fluence Energy
Our summaryFluence reported a restructuring plan from November 2022 that produced severance and consulting costs in fiscal 2023.
Word for word“Amount for the fiscal year ended September 30, 2023 includes approximately $6.7 million in severance costs and consulting fees related to the restructuring plan from November 2022.” 10-K for 2024
Ford
Our summaryFord is continuing to cut its global workforce and take other restructuring steps, including salaried separations announced in 2023 and 2024 and separation packages offered to some hourly workers in 2024.
Word for word“In addition, we are continuing to reduce our global workforce and take other restructuring actions, including the separation of salaried workers as announced during 2023 and 2024 and separation packages offered to certain members of our hourly workforce during 2024.” 10-K for 2024
Frontdoor
Frontier Communications Parent
Our summaryThe company recorded restructuring charges and other costs for 2023, mostly severance and employee costs from workforce reductions.
Word for word“During 2023, we incurred $ 73 million in restructuring charges and other costs consisting of $ 65 million of severance and employee costs resulting from workforce reductions, and $ 8 million of costs related to other restructuring activities.” 10-K for 2024
Funko
Our summaryCompany reported certain severance and benefit costs for reductions-in-force in 2023, recorded within adjusted EBITDA adjustments.
Word for word“For the year ended December 31, 2023, includes charges to remove leasehold improvements and return multiple Washington-based warehouses of $382,000, and charges related to severance and benefit costs for reductions-in-force of $5.2 million.” 10-K for 2024
GE HealthCare Technologies
Gentex
Graftech International
Grifols
Our summaryReduced staff in 2023 by about 8.0% of the workforce, mainly in US plasma operations, as part of the corporate streamlining under the Operational Improvement Plan, including a labor force reduction plan in Spain affecting 51 employees.
Word for word“The second part of the plan, streamlining corporate functions, caused a reduction in staff in 2023 of approximately 8.0% of our workforce (or approximately 2,000 employees), mainly in plasma operations in the United States, by means of initiatives such as: ● centralizing and automating functions; 101 Table of Contents ● more fully sharing services across business units; ● consolidating vendors; ● streamlining reporting structures; ● a labor force reduction plan (ERE) in Spain, which affected 51 employees; and ● eliminating duplicative functions and positions.” 20-F for 2024
H&R Block
Hagerty
Our summaryThe Board approved a reduction in force (the 2023 RIF) to drive efficiencies, with severance-related expenses and an impairment charge recognized.
Word for word“In 2023, the Board approved a reduction in force (the "2023 RIF") following a strategic review of business processes as we focus on driving efficiencies in order to achieve growth and profitability goals.” 10-K for 2024
Halliburton
Hanesbrands
Healthpeak Properties
Hillman Solutions
Our summaryPaid severance under the Canada Restructuring Plan, clearing the remaining severance reserve.
Word for word“During the year ended December 30, 2023, the Company paid approximately $ 157 in severance related to the Canada Restructuring Plan.” 10-K for 2023
Hologic
Our summaryThe restructuring table shows fiscal 2023 charges for workforce reductions across the fiscal 2023 and fiscal 2022 actions, with severance payments made during the year.
Word for word“Fiscal 2023 charges: Workforce reductions $ 5.5 $ 6.0 $ — $ — $ 11.5 Other costs — 0.5 — — 0.5 Fiscal 2023 restructuring charges $ 5.5 $ 6.5 $ — $ — $ 12.0 F-30 Table of Contents Fiscal 2023 Actions Fiscal 2022 Actions Fiscal 2021 Actions Previous Other Charges Total Rollforward of Accrued Restructuring Balance as of September 26, 2020 $ — $ — $ — $ 4.5 $ 4.5 Fiscal 2021 restructuring charges $ — $ — $ 8.7 $ 0.6 $ 9.3 Stock-based compensation — — ( 0.9 ) — ( 0.9 ) Severance payments and adjustments — — ( 4.6 ) ( 4.2 ) ( 8.8 ) Balance as of September 25, 2021 $ — $ — $ 3.2 $ 0.9 $ 4.1 Fiscal 2022 restructuring charges $ — $ 3.1 $ ( 0.3 ) $ ( 0.4 ) $ 2.4 Severance payments and adjustments — ( 0.4 ) ( 2.5 ) ( 0.5 ) ( 3.4 ) Balance as of September 24, 2022 $ — $ 2.7 $ 0.4 $ — $ 3.1 Fiscal 2023 restructuring charges $ 5.5 $ 6.5 $ — $ — $ 12.0 Severance payments and adjustments ( 3.2 ) ( 2.5 ) ( 0.4 ) — ( 6.1 ) Balance as of September 30, 2023 $ 2.3 $ 6.7 $ — $ — $ 9.0 Fiscal 2023 and 2022 A” 10-K for 2023
Honeywell International
Howmet Aerospace
Our summaryRecorded a layoff costs charge within 2023 restructuring and other charges.
Word for word“Restructuring and other charges in 2023 consisted primarily of a $12 charge for impairment of assets primarily related to decommissioned fixed assets in Engineered Structures, a $5 charge for U.S. and Canadian pension plans’ settlement accounting, a $3 charge for layoff costs, a $3 charge for various other exit related costs primarily for the closures of small manufacturing facilities, and a $2 charge for accelerated depreciation primarily related to the closure of a small Engineered Structures facility in the U.K.” 10-K for 2023
Huya
Our summaryHeadcount reduction initiatives, mainly affecting research and development personnel, were undertaken as part of business optimization plans, with one-time employee severance programs recorded in 2022.
Word for word“During the years ended December 31, 2021, 2022 and 2023, headcount reduction initiatives primiraly related to research and development personnel were undertaken as part of the Group's business optimization plans.” 20-F for 2023
IDT
ITT
Icon
Ingersoll Rand
Intel
Interface
Our summaryThe filing reports lower severance costs in 2024 than the prior year, linked to a headcount reduction and cost saving initiatives taken in 2023.
Word for word“Consolidated SG&A expenses increased $9.5 million (2.8%) in 2024 compared to 2023, primarily due to higher people costs of $15.7 million driven by increased variable compensation as a result of higher operating income compared to 2023, partially offset by lower severance costs of $5.6 million driven by employee headcount reduction and cost saving initiatives in the prior year period.” 10-K for 2024
Interpublic Group of Companies
Jetblue Airways
Kamada
Our summaryThe company signed a special collective bargaining agreement setting severance terms for employees who may be laid off in potential staff reductions to adjust to lower plant utilization.
Word for word“In March 2023, we entered into an additional special collective bargaining agreement with the employees’ committee and the Histadtrut governing severance remuneration terms for employees who may be laid off in connection with the potential staff reductions, when needed, in order to adjust to lower plant utilization.” 20-F for 2025
Kelly Services
Keurig Dr Pepper
Our summaryRestructuring liabilities, primarily workforce reduction costs, were reduced to $27 million by the end of 2023 after cash payments of $46 million.
Word for word“Restructuring liabilities, primarily consisting of workforce reduction costs, as of December 31, 2023 and 2022 were as follows: (in millions) Restructuring Liabilities Balance as of December 31, 2021 $ 19 Charges to expense 66 Cash payments ( 30 ) Balance as of December 31, 2022 55 Charges to expense 18 Cash payments ( 46 ) Balance as of December 31, 2023 $ 27 106 Table of Contents KEURIG DR PEPPER INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 20.” 10-K for 2023
Klaviyo
Our summaryAnnounced a reduction-in-force affecting about 8% of its global workforce.
Word for word“We have previously undertaken efforts to streamline our operations and improve cost efficiencies to align with our priorities for 2023, and in March 2023 we announced a reduction-in-force affecting approximately 8% of our global workforce.” 10-K for 2023
Our summaryAnnounced a workforce reduction that terminated about 8% of full-time workforce, including modification of stock options and RSUs for terminated employees.
Word for word“On March 15, 2023, the Company announced a reduction in workforce that resulted in the termination of approximately 8 % of the Company's full-time workforce ( 130 employees).” 10-K for 2023
Kontoor Brands
Our summaryCompany incurred 2023 restructuring charges to drive operating efficiencies, including reducing its global workforce.
Word for word“During 2023, the Company incurred total restructuring charges of $14.3 million to drive efficiencies in our operations, which included reducing our global workforce, streamlining and transferring select production within our internal manufacturing network and optimizing and globalizing our operating model.” 10-K for 2024
Kronos Worldwide
Our summaryImplemented voluntary and involuntary workforce reductions, mainly in European operations, to cut operating costs.
Word for word“In response to the extended period of reduced demand in 2023, we took measures to reduce our operating costs and improve our long-term cost structure such as the implementation of certain voluntary and involuntary workforce reductions during the third quarter of 2023 that primarily impacted our European operations.” 10-K for 2024
Labcorp
Lands' End
Lazard
Lear
Linde
Lockheed Martin
Louisiana-pacific
Lumen Technologies
MSC Industrial Direct
ManpowerGroup
Our summaryRecorded headcount reductions in Spain, with restructuring charges for the regional head office, France and Italy.
Word for word“The restructuring charges in 2023 were primarily related to headcount reductions in Spain of $6.2 million, as well as $3.2 million in the regional head office, $2.5 million in France and $1.6 million in Italy.” 10-K for 2023
Our summaryRecorded headcount reductions in the Nordics, the Netherlands, the United Kingdom and Belgium.
Word for word“The restructuring charges in 2023 were primarily related to headcount reductions and professional and other fees in Germany of $91.7 million as we wind down our Proservia operations in the country and headcount reductions in the Nordics of $14.3 million, as well as $5.2 million in the Netherlands, $5.0 million in the United Kingdom and $3.9 million in Belgium.” 10-K for 2023
Our summaryRecorded restructuring charges tied to headcount reductions in Australia.
Word for word“The restructuring charges in 2023 were related to headcount reductions in Australia.” 10-K for 2023
Marriott Vacations Worldwide
Marvell Technology
Match Group
Our summaryThe company said it consolidated some legacy brand platforms from 2023 to 2025 and in 2025 began an enterprise-wide cost initiative that includes reducing headcount and duplicated functions.
Word for word“From 2023 to 2025, we consolidated some of our legacy brands’ platforms and, in 2025, we launched an enterprise-wide initiative to further leverage our portfolio approach and decrease operating costs by, among other things, reducing headcount and duplication of certain functions across the Company and sharing more operational infrastructure across brands.” 10-K for 2025
Matrix Service
Our summaryFiscal 2023 restructuring costs of $3.1 million were incurred under the restructuring plan, including severance and other personnel-related costs and the closure of an underperforming office.
Word for word“During fiscal 2023, we incurred $3.1 million of restructuring costs, which included severance and other personnel-related costs in connection with our restructuring plan and our closure of an underperforming office.” 10-K for 2024
Maxlinear
Our summaryImplemented workforce reductions in March and October 2023, with layoffs affecting employees whose positions were eliminated.
Word for word“In March and October 2023, we initiated reductions of our workforce to align our operational needs with the changes in macroeconomic conditions and the demand environment.” 10-K for 2023
Our summaryRecorded employee severance-related charges and other charges tied to the workforce reductions, including abandonment of design software licenses used by terminated staff.
Word for word“Restructuring charges for the year ended December 31, 2023 included $17.9 million in employee severance-related charges related to reductions in our workforce and $1.8 million in other charges driven by the abandonment of certain computer-assisted design software licenses used by the terminated workforce.” 10-K for 2023
McKesson
Meta
Our summaryMeta announced several initiatives in 2022 and 2023, including restructurings, employee layoffs, and measures to scale down office facilities.
Word for word“For example, in 2022 and 2023, we announced several initiatives, including restructurings, employee layoffs, and measures to scale down our office facilities.” 10-K for 2025
Microchip Technology
Micron Technology
Our summaryUnder the 2023 Restructure Plan, the company reduced its headcount through voluntary attrition and personnel reductions.
Word for word“Under the 2023 Restructure Plan, we reduced our headcount by approximately 15% by the end of calendar 2023, through a combination of voluntary attrition and personnel reductions.” 10-K for 2024
Middleby
Our summaryThe company said fiscal 2023 restructuring expenses were mainly for headcount reductions and facility consolidations in the Commercial Foodservice Equipment Group.
Word for word“Restructuring expenses in fiscal 2023 related primarily to headcount reductions and facility consolidations within the Commercial Foodservice Equipment Group.” 10-K for 2026
Minerals Technologies
Mission Produce
Modine Manufacturing
Our summaryFiscal 2023 restructuring consisted of severance for targeted headcount reductions in both Climate Solutions and Performance Technologies segments.
Word for word“During fiscal 2023, restructuring and repositioning expenses primarily consisted of severance expenses for targeted headcount reductions in both the Climate Solutions and Performance Technologies segments.” 10-K for 2025
Mohawk Industries
Our summaryThe company carried out restructuring actions, productivity initiatives and manufacturing enhancements that included facility, asset and product rationalizations and workforce reductions.
Word for word“During 2022 and 2023, the Company implemented restructuring actions, productivity initiatives and manufacturing enhancements focused on reducing costs and improving future performance, including certain facility, asset and product rationalizations and workforce reductions.” 10-K for 2025
Morningstar
Our summaryMorningstar carried out targeted reorganizations and headcount reductions in parts of the business, with the most significant reductions at Morningstar Sustainalytics, along with reductions at Morningstar Wealth and Morningstar DBRS.
Word for word“This decline was partially offset by $9.0 million of severance expense during 2023, respectively, related to targeted reorganizations and headcount reductions in certain parts of the business, including Morningstar Sustainalytics, Morningstar Wealth, and Morningstar DBRS.” 10-K for 2023
Mueller Water Products
NCR Voyix
Nasus Pharma
Neighborhood Intelligence
Our summaryThe company carried out a reduction in force, a workforce reduction, during 2023.
Word for word“We also underwent changes to our workforce in 2023 when we had a reduction in force.” 10-K for 2023
New Royal Holdco I
New York Times
Nice
Nordson
Northern States Power
Our summaryXcel Energy recorded total workforce reduction expense of $72 million in the fourth quarter of 2023, of which $5 million was attributable to NSP-Wisconsin.
Word for word“Total Xcel Energy workforce reduction expenses of $72 million were recorded in the fourth quarter of 2023, of which $5 million was attributable to NSP-Wisconsin.” 10-K for 2023
ODP
OSI Systems
Oracle
Our summaryOracle recorded restructuring expenses in fiscal 2023, mainly employee severance under its Fiscal 2022 Oracle Restructuring Plan.
Word for word“Restructuring expenses in fiscal 2023 primarily related to employee severance in connection with the Fiscal 2022 Oracle Restructuring Plan (2022 Restructuring Plan).” 10-K for 2024
Organon
Ovintiv
P3 Health Partners
Our summaryThe company recorded restructuring and other charges that included severance and benefits paid to employees under workforce reduction plans, reported within Other in the Adjusted EBITDA reconciliation for 2023.
Word for word“Other during the year ended December 31, 2023 consisted of (i) interest income offset by (ii) cybersecurity incident loss, (iii) restructuring and other charges, including severance and benefits paid to employees pursuant to workforce reduction plans, (iv) the disposition of our Pahrump operations, (v) expenses for third-party consultants to assist us with the development, implementation, and documentation of new and enhanced internal controls and processes for compliance with Sarbanes-Oxley Section 404(b), (vi) a legal settlement outside of the ordinary course of business, and (vii) valuation allowance on our notes receivable.” 10-K for 2023
PC Connection
Paccar
Pagaya Technologies
Our summaryAnnounced a reduction in workforce of about 20% of employees across its Israel and U.S. offices.
Word for word“On January 18, 2023, we announced a reduction in workforce of approximately 20% of employees across our Israel and U.S. offices, as compared to our headcount as of December 31, 2022.” 10-K for 2023
Our summaryCarried out a substantially smaller workforce reduction in May 2023, alongside the January reduction.
Word for word“Combined with a substantially smaller reduction in workforce in May 2023, we were able to achieve an approximately $30 million of annualized cost savings.” 10-K for 2023
Paysafe
Peabody Energy
Our summaryThe company recorded restructuring charges for 2025, 2024 and 2023, mostly for voluntary and involuntary workforce reductions.
Word for word“Included as a component of “Restructuring charges” in the Company’s consolidated statements of operations for the years ended December 31, 2025, 2024 and 2023 were aggregate restructuring charges of $ 9.5 million, $ 4.4 million and $ 3.3 million, respectively, primarily associated with voluntary and involuntary workforce reductions.” 10-K for 2025
Peloton Interactive
Penguin Solutions
Our summaryRestructuring plans including workforce reductions and elimination of certain projects, with severance and benefit costs recorded as restructure charges.
Word for word“In 2024 and 2023, we initiated plans that included workforce reductions and the elimination of certain projects across our businesses.” 10-K for 2024
Our summaryRestructure charges in other operating expense covered employee severance and other benefits from workforce reductions, project eliminations, and wind down of the Penguin Edge business; the company expects more restructure charges.
Word for word“Other operating expense in 2024 and 2023 included restructure charges of $7.1 million and $7.0 million, respectively, primarily for employee severance costs and other benefits resulting from workforce reductions, the elimination of certain projects across our businesses and other costs associated with the wind down of our Penguin Edge business.” 10-K for 2024
PetIQ
Piper Sandler Companies
Our summaryCompany recorded severance and vacated-office restructuring costs in 2023 tied to headcount reductions and acquisitions.
Word for word“For the year ended December 31, 2023, we incurred restructuring and integration costs of $7.7 million, primarily consisting of $6.7 million of severance benefits related to headcount reductions and $0.9 million for vacated leased office space associated with our acquisitions of Cornerstone Macro Research LP and The Valence Group.” 10-K for 2024
Pitney Bowes
Playtika Holding
Pricesmart
Primo Brands
ProFrac Holding
ProPetro Holding
QVC Group
Our summaryQVC completed a planned workforce reduction under the first phase of Project Athens, which began in 2022.
Word for word“During 2022, QVC commenced the first phase of Project Athens, including actions to reduce inventory and a planned workforce reduction that was completed in February 2023.” 10-K for 2024
Our summaryQVC recorded a $13 million restructuring charge in 2023 for workforce reduction costs, as part of the prior-year restructuring results.
Word for word“For the year ended December 31, 2023, the gain related to a $240 million gain on insurance proceeds received in excess of fire losses and a $17 million gain on the sale of the Rocky Mount property, partially offset by $32 million of other fire related costs, a Consumer Product Safety Commission (“CPSC”) civil penalty of $16 million and $13 million of restructuring costs related to workforce reduction.” 10-K for 2024
Quad/Graphics
RED Robin Gourmet Burgers
Our summaryCompany incurred severance and executive transition costs primarily related to a reduction in force of Team Members and changes in leadership positions.
Word for word“During fiscal 2024, 2023, and 2022, the Company incurred severance and executive transition costs primarily related to a reduction in force of Team Members and costs associated with changes in leadership positions.” 10-K for 2024
REV Group
Our summaryThe company reported fiscal 2023 restructuring-related charges tied to a reduction in force affecting corporate employees.
Word for word“Restructuring related charges for fiscal year 2023 relates to costs associated with a reduction in force impacting corporate employees.” 10-K for 2025
RadNet
Radian
Our summaryRadian made additional headcount reductions in its homegenius segment in response to a challenging macroeconomic environment, incurring severance expense.
Word for word“Included in the results for 2023 are severance expenses of $2 million related to additional reductions in headcount in response to the ongoing challenging macroeconomic environment for the homegenius segment’s products and services, as compared to $6 million of severance expense in 2022.” 10-K for 2023
Range Resources
Revvity
Our summaryThe company recorded restructuring charges primarily tied to workforce reductions, and expects severance payments to be substantially completed during fiscal 2024.
Word for word“The Company recorded restructuring charges, included in selling, general and administrative expenses in the consolidated statements of operations, of $ 26.6 million , $ 13.6 million and $ 14.4 million primarily associated with workforce reductions during fiscal years 2023, 2022 and 2021, respectively .” 10-K for 2023
SPX Technologies
Sabre
Scotts Miracle-gro
Our summaryThe company made strategic reductions in its workforce during fiscal 2024, fiscal 2023 and fiscal 2022 as part of ongoing organizational changes intended to create efficiencies.
Word for word“During fiscal 2024, fiscal 2023 and fiscal 2022, we undertook strategic reductions in our workforce as part of an on-going series of organizational changes and initiatives intended to create operational and management-level efficiencies.” 10-K for 2024
Seadrill
Our summaryHeadcount in Other, Rest of Europe and Africa and Middle East decreased from 2022 to 2023 due to onshore employee headcount reduction programs, including the closure of the Dubai office.
Word for word“Headcount in "Other", "Rest of Europe" and "Africa and Middle East" has decreased from 2022 to 2023 because of onshore employee headcount reduction programs, including the closure of the Dubai office.” 20-F for 2023
SelectQuote
Shopify
Our summaryShopify reduced headcount by about 23% of employees in a 2023 workforce reduction, with severance costs incurred and paid in 2023.
Word for word“In May 2023, the Company reduced headcount by approximately 23 % of employees across the Company ("2023 Reduction in Workforce").” 10-K for 2024
Silicon Laboratories
Our summaryImplemented a workforce reduction of about 10% of employees to reduce costs and align the business with market conditions.
Word for word“During the fourth quarter of 2023, the Company implemented a workforce reduction of approximately 10 % of its employees to reduce costs and align its business in response to market conditions.” 10-K for 2023
Sirius XM
Smurfit Westrock
Snap One Holdings
Our summaryThe company took several restructuring actions in fiscal 2023, including a warehouse relocation, departmental reorganization and a workforce reduction, which together cut headcount by about 5%.
Word for word“The cumulative impact of these actions resulted in an approximately 5% reduction in workforce in fiscal year 2023.” 10-K for 2023
SoFi Technologies
Our summaryCarried out a company-wide reduction in headcount with associated wages, benefits and severance expense.
Word for word“Restructuring charges in 2023 were associated with a reduction in headcount in the Technology Platform segment in the first quarter of 2023, as well as expenses in the fourth quarter of 2023 related to a reduction in headcount across the Financial Services, Lending and corporate functions, which primarily included employee-related wages, benefits and severance.” 10-K for 2024
Solaredge Technologies
Our summaryAnnounced a restructuring plan in October 2023 covering terminating manufacturing in Mexico, reducing manufacturing capacity in China, and discontinuing LCV e-Mobility activity.
Word for word“In October of 2023, the Company made an announcement regarding its restructuring plans to adjust its manufacturing capacity and increase operating efficiency, including, terminating the manufacturing process in Mexico, reducing manufacturing capacity in China, and discontinuing the Company's LCV e-Mobility activity, and on January 21, 2024, the Company announced adoption of additional measures in response to challenging industry conditions, including reducing its headcount by approximately 900 over the first half of 2024 through involuntary workforce reduction plans, followed by an additional involuntary workforce reduction in July 2024 resulting in the layoff of approximately 400 employees (together, the "Restructuring Plans").” 10-K for 2024
Southwestern Public Service
Our summaryXcel Energy, the parent, ran a voluntary retirement program in which about 400 eligible non-bargaining employees retired, and it also cut about 150 non-bargaining employees through an involuntary severance program; SPS's share of the expense was $9 million.
Word for word“Total Xcel Energy workforce reduction expenses of $72 million were recorded in the fourth quarter of 2023, of which $9 million was attributable to SPS.” 10-K for 2024
SpartanNash
Sphere Entertainment
Our summarySphere implemented a cost reduction program in Fiscal Year 2023 that included a workforce reduction of certain executives and employees in the Sphere and MSG Networks segments, recognizing termination benefits.
Word for word“During Fiscal Year 2023, the Company implemented a cost reduction program which resulted in the recognition of termination benefits for a workforce reduction related to certain executives and employees of the Sphere and MSG Networks segments.” 10-K for 2023
Spotify
Our summaryAnnounced a reduction in force that reduced the employee base across the Company.
Word for word“On December 4, 2023, the Company announced a reduction in force, through which our employee base was reduced by approximately 17 %.” 20-F for 2023
Our summaryAccrued employee severance costs for the latest reduction in force, expected to be substantially settled in the second fiscal quarter of 2024.
Word for word“As of December 31, 2023, we have accrued employee severance costs related to the latest reduction in force of € 136 million included within current accrued expenses and other liabilities.” 20-F for 2023
Stericycle
Our summaryThe company recorded fourth-quarter 2023 charges, mainly severance for a workforce reduction split between North America and International, plus the closure of an International facility.
Word for word“In the fourth quarter of 2023, the Company recognized Operational Optimization charges of $4.1 million primarily related to severance associated with workforce reduction, split between North America and International segments, and closure of an International facility, which is expected to provide annual savings of approximately $8 million.” 10-K for 2023
Strategic Education
Our summaryCompany recorded employee terminations tied to position eliminations during the year, which increased severance and other personnel-related restructuring expenses.
Word for word“Restructuring costs increased to $16.3 million in 2023 from $2.1 million in 2022, principally due to an increase of $10.5 million in severance and other personnel-related expenses from employee terminations related to position eliminations during the year, a decrease of $1.9 million in gains related to the sale of real estate and early terminations of leased facilities, and an increase of $1.8 million in right-of use lease asset and fixed asset impairment charges associated with vacating leased space in 2023.” 10-K for 2023
Stride
Our summaryThe company reduced its workforce, with severance expense recorded in each of the fiscal years 2024, 2023 and 2022.
Word for word“During the years ended June 30, 2024, 2023 and 2022, the Company reduced its workforce, resulting in severance of $ 4.6 million, $ 3.4 million and $ 3.7 million, respectively.” 10-K for 2024
Superior Industries International
Our summaryThe company began a reduction in its global workforce to better align its cost structure with lower automotive industry production levels.
Word for word“During the first quarter of 2023, the Company initiated a reduction in its global workforce to better align our cost structure with lower automotive industry production levels.” 10-K for 2023
Sylvamo
Our summaryCompany recorded severance costs from a planned reduction in its salaried workforce, split across its three segments.
Word for word“During the year ended December 31, 2023, the Company recorded approximately $ 13 million before taxes ($ 10 million after taxes) of severance costs related to a planned reduction in our salaried workforce, of which $ 3 million is included within Cost of products sold and $ 10 million is included within Selling and administrative expenses in our consolidated statements of operations.” 10-K for 2023
Symbotic
T-Mobile US
Our summaryThe company recorded severance and related costs in selling, general and administrative expense for the August 2023 workforce reduction.
Word for word“• $321 million of severance and related costs associated with the August 2023 workforce reduction; • Higher commission amortization expense; • Higher advertising expense; and • Gains from the sale of certain IP addresses held by the Wireline Business of $121 million recognized during the year ended December 31, 2022.” 10-K for 2023
Our summaryThe company recorded severance and related costs in cost of services for the August 2023 workforce reduction.
Word for word“• $141 million of severance and related costs associated with the August 2023 workforce reduction; and • Higher site costs related to the continued build-out of our nationwide 5G network.” 10-K for 2023
Our summaryTotal severance and related costs for the August 2023 workforce reduction were excluded from adjusted EBITDA as special items.
Word for word“Other, net, for the year ended December 31, 2023, includes $462 million of severance and related costs associated with the August 2023 workforce reduction.” 10-K for 2023
TKO Group Holdings
Our summaryCompany implemented an ongoing cost reduction program, resulting in termination benefits for a workforce reduction of certain employees and contract termination costs for independent contractors in the WWE segment and Corporate group.
Word for word“Beginning in the third quarter of 2023, the Company implemented an ongoing cost reduction program, primarily related to realizing synergy opportunities and integrating the combined operations of WWE and UFC, which resulted in the recording of termination benefits for a workforce reduction of certain employees and contract termination costs for independent contractors in the WWE segment and Corporate group.” 10-K for 2024
Teledyne Technologies
Teleflex
Our summaryContinued the 2023 restructuring plan, which included the integration of Palette and workforce reductions; the plan is substantially complete, with 2024 net charges of $(1.5) million and 2023 charges of $12.5 million.
Word for word“In 2023, we initiated the "2023 restructuring plan," which primarily involved the integration of Palette into Teleflex and workforce reductions designed to improve operating performance across the organization by creating efficiencies that align with evolving market demands and our strategy to enhance long-term value creation.” 10-K for 2024
Telephone & Data Systems
Our summaryUScellular recorded severance and related expenses tied to a reduction in workforce.
Word for word“Total operating expenses Total operating expenses in 2023 include $9 million of severance and related expenses associated with a reduction in workforce that was recorded in the first quarter of 2023.” 10-K for 2023
Thryv Holdings
Tigo Energy
Our summaryThe company restructured its operations and cut its workforce by 15% to preserve liquidity.
Word for word“Given the challenging macroeconomic conditions outlined above, the Company has taken measures to preserve liquidity, including the strategic decision to restructure our operations and reduce our workforce by 15% in December 2023.” 10-K for 2023
Timken
TripAdvisor
TrueBlue
UPS
Unisys
Uniti
V F
Verint Systems
Verizon
Vestis
Our summaryApproved headcount reductions to streamline operational and administrative functions, recording severance charges in SG&A.
Word for word“During fiscal 2023, the Company approved headcount reductions to streamline and improve the efficiency and effectiveness of operational and administrative functions.” 10-K for 2023
Vista Outdoor
Our summaryIn the fourth quarter of fiscal 2023 the company announced a restructuring plan earnings improvement program covering severance and asset impairments, office closures and headcount reductions across its brands and corporate teams.
Word for word“In the fourth quarter of fiscal year 2023, we announced a restructuring plan earnings improvement program, which includes severance and asset impairments related to product line reassessments, office closures, and headcount reductions across our brands and corporate teams.” 10-K for 2023
Vontier
Our summaryThe company said its restructuring activities in 2025, 2024 and 2023 aimed at operational efficiency through targeted workforce reductions and facility consolidations and closures.
Word for word“The nature of restructuring and related activities initiated in the years ended December 31, 2025, 2024 and 2023 focused on improvements in operational efficiency through targeted workforce reductions and facility consolidations and closures.” 10-K for 2025
Vroom
Our summaryCarried out a reduction in force that cut Vroom headcount by about 275 employees, mainly severance.
Word for word“On January 18, 2023, the Company executed a reduction-in- force as part of the continued focus on reducing variable and fixed costs.” 10-K for 2023
Our summaryCarried out an organizational restructuring with a reduction in force that cut Vroom headcount by about 120 employees.
Word for word“On April 26, 2023, as part of the Company’s ongoing reexamination of all facets of the business, the Company implemented an organizational restructuring that included a reduction-in- force.” 10-K for 2023
WEC Energy Group
Walker & Dunlop
Our summaryThe company carried out a reduction in force announced in April 2023 that affected about 8% of its workforce at the time.
Word for word“This decline was primarily due to a reduction in force announced in April of 2023 that included approximately 8% of our workforce at the time and limited hiring in response to broader economic challenges facing the commercial real estate industry in 2023.” 10-K for 2023
Waters
Our summaryThe company incurred severance costs in 2023 for a workforce reduction.
Word for word“Operating income of $826 million in 2024 increased $8 million from operating income of $818 million in 2023 primarily due to cost savings from recent workforce reductions and the absence of the $26 million severance costs associated with the workforce reduction incurred in 2023, which were offset by higher annual incentive compensation, a full year of amortization associated with the Wyatt acquisition and the impact of merit increases on the Company’s annual payroll in 2024.” 10-K for 2025
Wells Fargo
West Pharmaceutical Services
Our summaryRecorded a benefit to restructuring and other charges in 2023, reflecting revised severance estimates for the 2022 restructuring plan and an inventory write down.
Word for word“During 2023, the Company recorded a benefit to restructuring and other charges of $2.0 million, which represents the net impact of a $2.8 million b enefit within other expense (income) for revised severance estimates in connection with its 2022 restructuring plan and an inventory write down of $0.8 million within cost of goods and services sold.” 10-K for 2024
Wisconsin Electric Power
Wix.com
Wolfspeed
Wyndham Hotels & Resorts
Xylem
ZoomInfo Technologies
Our summaryCarried out a reduction in force in June 2023, with related severance and termination costs recorded within restructuring and transaction-related expenses.
Word for word“Expenses for the year ended December 31, 2023 were primarily comprised of costs incurred related to the June 2023 reduction in force and lease impairments.” 10-K for 2023
Our summaryPaid cash for severance and related costs tied primarily to the June 2023 reduction in force.
Word for word“For the year ended December 31, 2023, these payments related primarily to a June 2023 reduction in force, legal costs paid related to 2021 and 2022 acquisitions, and Waltham sublease costs.” 10-K for 2023
Our summaryRecorded impairment charges related to the Ra'anana office and other offices within restructuring and transaction-related expenses.
Word for word“For the year ended December 31, 2023, this expense is primarily related to costs associated with a June 2023 reduction in force, and impairment charges related to the Ra’anana office and other offices.” 10-K for 2023
eBay
Our summaryDuring the first quarter of 2023, management approved a workforce reduction as part of plans to drive operational improvement, substantially completed in that quarter.
Word for word“During the first quarter of 2023, management approved plans to drive operational improvement that included the reduction of workforce.” 10-K for 2023
Our summaryDuring the fourth quarter of 2023, management approved another workforce reduction as part of plans to drive operational improvement, expected to be substantially completed in the second quarter of 2024.
Word for word“During the fourth quarter of 2023, management approved plans to drive operational improvement that included the reduction of workforce.” 10-K for 2023
monday.com
These lists cover the companies Stratrix follows: those that file with the SEC and had $1 billion or more in yearly revenue in at least one year since 2016. This one shows what they reported to the SEC, not news reports or state layoff notices; many announced layoffs never appear in a filing. Data as of October 23, 2026.
More lists: AI layoffs · Acquisitions in 2023 · Most-named competitors. How every line is checked: our methods.