Thread regarding Northern Trust Corp. layoffs

2023 Q1-Q3 Layoff Severance charges >60% higher than 2022 pace

Severance costs in first 3 quarters of 2023 were over 60% higher than the 2022 rate.

The Q3 2023 10-Q (filed 2023-10-31) reports $36.7 million of severance-related charges in first 3Q of 2023.
2023 severance costs in 3 quarters exceeded the total annual 2022 severance costs of $30.4 million. See 10-K (Annual report) filed 2023-02-28.
10-K (Annual report) of filed (2023-02-28)

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2023 10-K annual filing 2024-02-28.

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