---
schema_version: "secwatch.filing_event.v1"
accession: "0001822966-24-000003"
form_type: "8-K"
ticker: "SMR"
cik: "0001822966"
company_name: "NUSCALE POWER Corp"
filed_at: "2024-01-08T23:59:59+00:00"
generated_at: "2026-06-07T02:32:10.875533+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# NuScale lays off 154 employees (28% of workforce); expects $50-60M annual savings

## Summary
- Workforce reduction of 154 full-time employees (~28% of staff) effective Jan 5, 2024.
- Expects annualized cost savings of $50-60M; Q1 2024 severance charges ~$3M.
- Principal accounting officer Julie Adelman released as part of the restructuring.
- Company refocusing from R&D to commercialization and near-term SMR deployment.

## SEC filing metadata
- accession: 0001822966-24-000003
- form_type: 8-K
- ticker: SMR
- cik: 0001822966
- company_name: NUSCALE POWER Corp
- filed_at: 2024-01-08T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.05, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1822966/000182296624000003/0001822966-24-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822966/000182296624000003/smr-20240108.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001822966-24-000003
- JSON: https://secwatch.observer/filing/0001822966-24-000003.json
- Plain text: https://secwatch.observer/filing/0001822966-24-000003.txt

## Key facts
- Executive change
  Julie Adelman departed as principal accounting officer at NUSCALE POWER Corp.
  - Action: released
  - Role: principal accounting officer
  source text: NuScale has announced that effective January 5, 2024, that Julie Adelman, NuScale’s principal accounting officer, was released by the Company as part of the Plan described above.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822966/000182296624000003/0001822966-24-000003-index.htm
- Restructurings & Charges
  NUSCALE POWER Corp announced a restructuring with charges of approximately $3 million in the first quarter of 2024 in connection with the Plan affecting Company's current workforce (reduction of the Company’s current workforce by 154 full time employees which represents approximately 28 percent of ful).
  - Type: restructuring
  - Charge: approximately $3 million in the first quarter of 2024 in connection with the Plan
  - Affected area: Company's current workforce
  - Headcount: reduction of the Company’s current workforce by 154 full time employees which represents approximately 28 percent of ful
  source text: On January 5, 2024, NuScale Power Corporation (the “Company”) announced a restructuring plan (the “Plan”). The Plan includes a reduction of the Company’s current workforce by 154 full time employees which represents approximately 28 percent of full-time staff. The Plan was adopted to reduce the Company’s cost base and focus resources on key strategic areas. The Company will record a charge of approximately $3 million in the first quarter of 2024 in connection with the Plan. These charges consist primarily of severance payments and related benefit costs.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822966/000182296624000003/0001822966-24-000003-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.