- Pegasystems ( NASDAQ: PEGA ) said Tuesday it will reduce its workforce by ~4% as part of aligning its go-to-market teams with its strategy and its commitment to becoming a Rule of 40 company.
- The company expects to incur a charge of $18.9M in Q4 related to cash severance and related benefit costs for terminated employees.
- "We are engaged in a detailed review to further improve our go-to-market operating model, drive role clarity and accountability, enable greater efficiency, and sharpen our client focus, especially where our investment has outpaced our growth," said CEO Alan Trefler in an email to employees.
- Earlier, Pegasystems ( PEGA ) shares rose on a report of potential $1B investment from Clayton Dubilier & Rice .
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Pegasystems to lay off 4% of workforce