---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-000843"
form_type: "8-K"
ticker: "PEGA"
cik: "0001013857"
company_name: "PEGASYSTEMS INC"
filed_at: "2023-01-03T23:59:59+00:00"
generated_at: "2026-06-20T20:40:27.237276+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Pegasystems cuts ~4% of workforce, expects $18.9M charge in Q4 2022

## Summary
- Workforce reduction of ~4% across all geographies, affecting go-to-market teams.
- Expects $18.9M charge in Q4 2022 for cash severance and related benefits.
- Company cites alignment with Rule of 40 goal and go-to-market strategy.
- Communications to impacted employees expected to be completed in Q1 2023.

## SEC filing metadata
- accession: 0001193125-23-000843
- form_type: 8-K
- ticker: PEGA
- cik: 0001013857
- company_name: PEGASYSTEMS INC
- filed_at: 2023-01-03T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.05, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1013857/000119312523000843/0001193125-23-000843-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1013857/000119312523000843/d442682d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-000843
- JSON: https://secwatch.observer/filing/0001193125-23-000843.json
- Plain text: https://secwatch.observer/filing/0001193125-23-000843.txt

## Key facts
- Restructurings & Charges
  PEGASYSTEMS INC announced a restructuring with charges of $18.9 million (approximately 4% of its employees).
  - Type: restructuring
  - Charge: $18.9 million
  - Headcount: approximately 4% of its employees
  source text: Aligned with our target organization go-to-market strategy and commitment to be a Rule of 40 managed company, on January 3, 2023, Pegasystems Inc. (the “Company”) 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1013857/000119312523000843/0001193125-23-000843-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.