{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-265214","form_type":"8-K","ticker":"KFY","cik":"0000056679","company_name":"KORN FERRY","filed_at":"2023-10-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:31.726875+00:00","generated_at":"2026-06-09T07:28:32.865875+00:00","sec_items":["2.05"],"event_type":"other_material","sentiment":"negative","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Korn Ferry to cut ~8% of workforce; expects $55-65M pre-tax charge","bullets":["Position eliminations affect approx. 8% of employees, driven by macroeconomic pressures.","Estimated pre-tax charge of $55M-$65M, consisting of severance and benefits.","Annualized cost base reduction of $110M-$120M expected.","Plan substantially complete by end of Q3 fiscal 2024; majority of cash outlays in FY2024.","Cash expenditures of $40M-$45M related to the restructuring."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-265214","json":"https://secwatch.observer/filing/0001193125-23-265214.json","markdown":"https://secwatch.observer/filing/0001193125-23-265214.md","text":"https://secwatch.observer/filing/0001193125-23-265214.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/56679/000119312523265214/0001193125-23-265214-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/56679/000119312523265214/d573906d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-09T07:28:32.865875+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"8e1e55bc1248a96d212385f4cab1f6126820edb0","claim":"KORN FERRY announced a restructuring with charges of an estimated pre-tax charge of approximately $55 million to $65 million, consisting of severance and related employee benefit payments affecting approximately eight percent of the Company’s employees (approximately eight percent of the Company’s employees).","evidence_excerpt":"is expected to reduce the Company’s annualized cost base by approximately $110 million to $120 million and is expected to result in an estimated pre-tax charge of approximately $55 million to $65 million, consisting of severance and related employee benefit payments. These charges are expected to include approximately $40 million to $45 million of cash","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/56679/000119312523265214/0001193125-23-265214-index.htm","confidence":1.0,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"an estimated pre-tax charge of approximately $55 million to $65 million, consisting of severance and related employee benefit payments"},{"label":"Affected area","value":"approximately eight percent of the Company’s employees"},{"label":"Headcount","value":"approximately eight percent of the Company’s employees"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}