Pegasystems, a global software corporation, has announced its second round of job cuts this year, totaling approximately 4% of its workforce, or approximately 240 employees. According to the Boston Business Journal, this decision, outlined in public filings, is attributed to the company’s restructuring efforts within its customer success roles.
Pegasystems, headquartered in the United States, anticipates that these layoffs will affect a portion of its workforce in the state of Massachusetts.
The company has branches in two major Indian cities: Bangalore and Hyderabad. The firm specialises in developing software for both customer relationship management (CRM) and business process management (BPM).
According to the company statement, these job cuts will primarily affect roles related to the simplification of the client engagement strategy and better alignment with the firm’s business objectives.
The software company had already announced plans to reduce its workforce by 4%, or more than 6,000 employees, in January of this year.
These layoffs are consistent with the company’s stated goal of optimising its go-to-market operational framework, as stated in the company’s official filing.
According to a filing with the US Securities and Exchange Commission (SEC), the company expects to incur $18.9 million in expenses in the fourth quarter of 2022. This cost is related to cash severance packages and employee benefit costs for those laid off.
The company had approximately 6,500 employees worldwide at the time, with regional headquarters in North America, Europe, and Asia Pacific.