Pegasystems announces 4% workforce reduction, sees Q4 charge of $18.9M

In a regulatory filing, the company said, "Aligned with our target organization go-to-market strategy and commitment to be a Rule of 40 managed company, on January 3, 2023, Pegasystems announced a reduction in its workforce of approximately 4% of its employees across various geographies. Communications to impacted persons or their representatives are expected to be completed in the first quarter 2023. The company expects to incur a charge of $18.9 million in the fourth quarter of 2022 related principally to cash severance and related benefit costs for terminated employees."