---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-224936"
form_type: "8-K"
ticker: "PEGA"
cik: "0001013857"
company_name: "PEGASYSTEMS INC"
filed_at: "2023-08-30T23:59:59+00:00"
generated_at: "2026-06-11T01:45:51.285759+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Pegasystems announces ~4% workforce reduction, expects $16M charge in Q3 2023

## Summary
- Reduction of approximately 4% of employees across various geographies announced August 30, 2023.
- Expected pre-tax charge of about $16 million in Q3 2023, primarily for cash severance and benefits.
- Communications to affected employees expected to be substantially completed by September 8, 2023.
- Realignment part of go-to-market strategy to consolidate client-facing roles and accelerate cloud transition.
- Pega Cloud now represents over 40% of ACV; focus on supporting client migration to cloud.

## SEC filing metadata
- accession: 0001193125-23-224936
- form_type: 8-K
- ticker: PEGA
- cik: 0001013857
- company_name: PEGASYSTEMS INC
- filed_at: 2023-08-30T23:59:59+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/1013857/000119312523224936/0001193125-23-224936-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1013857/000119312523224936/d533747d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-224936
- JSON: https://secwatch.observer/filing/0001193125-23-224936.json
- Plain text: https://secwatch.observer/filing/0001193125-23-224936.txt

## Key facts
- Restructurings & Charges
  PEGASYSTEMS INC announced a restructuring with charges of approximately $16 million affecting various geographies (approximately 4% of its employees).
  - Type: restructuring
  - Charge: approximately $16 million
  - Affected area: various geographies
  - Headcount: approximately 4% of its employees
  source text: as part of the go-to-market strategy and continued effort to elevate and simplify client engagement, on August 30, 2023, Pegasystems Inc. (the “Company”) announced a workforce realignment resulting in a reduction of approximately 4% of its employees across various geographies. Communications to impacted persons or their representatives are expected to be substantially completed by September 8, 2023. The Company expects to incur a charge of approximately $16 million in the third quarter of 2023 related principally to cash severance and related benefit costs for terminated employees.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1013857/000119312523224936/0001193125-23-224936-index.htm

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