Pegasystems, a global software corporation, has announced its second round of job cuts in the current year, amounting to approximately four per cent of its workforce, which translates to around 240 employees. This decision, outlined in public filings, is attributed to the company’s restructuring efforts within its customer success roles, as reported by the Boston Business Journal.
Pegasystems, headquartered in the US, expects these reductions to impact a portion of its workforce in the state of Massachusetts.
The company has its branches situated in two key Indian cities, Bangalore and Hyderabad. The company specialises in the creation of software solutions for both customer relationship management (CRM) and business process management (BPM).
According to the company statement, these job cuts primarily focus on roles related to the client engagement strategy simplification and better alignment with the firm’s business objectives.
Back in January of this year, the software company had already disclosed plans to trim its workforce by four per cent, equivalent to more than 6,000 employees.
These personnel reductions are in line with the company’s goal of optimising its go-to-market operational framework, as articulated in the company’s official filing.
According to a submission made to the US Securities and Exchange Commission (SEC), the company anticipates incurring an expense of $18.9 million in the final quarter of 2022. This expense is associated with cash severance packages and employee benefit costs for those who were laid off.
At the time, the company had a workforce of approximately 6,500 employees worldwide, and it maintained regional headquarters in North America, Europe, and the Asia Pacific.
