News: Pegasystems plans to lay off 4% of the workforce

Strategic HR

Pegasystems plans to lay off 4% of the workforce

As part of the company's goal to improve its go-to-market operating model, Pegasystems plans to sack 4% of the workforce.
Pegasystems plans to lay off 4% of the workforce

Software Company Pegasystems is planning to reduce its workforce by 4 per cent. The company expects to incur a charge of $18.9 million in the fourth quarter of 2022 related to cash severance and benefit costs for terminated employees. 

The same was revealed in a filing with the US Securities and Exchange Commission. The firm’s officials said in a letter to employees that the reductions are part of the company's goal to improve its go-to-market operating model. 

This step will enable greater efficiency and sharpen its client focus, especially where its investment has outpaced growth.

While Pegasystems didn't disclose the number of employees that will be affected, as per media reports 6,133 employees are working at Pegasystems. 

Read full story

Topics: Strategic HR

Did you find this story helpful?

Author

QUICK POLL

How do you envision AI transforming your work?