---
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"
generated_at: "2026-06-09T07:28:32.865875+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Korn Ferry to cut ~8% of workforce; expects $55-65M pre-tax charge

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.05
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-265214
- JSON: https://secwatch.observer/filing/0001193125-23-265214.json
- Plain text: https://secwatch.observer/filing/0001193125-23-265214.txt

## Key facts
- Restructurings & Charges
  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).
  - Type: restructuring
  - Charge: an estimated pre-tax charge of approximately $55 million to $65 million, consisting of severance and related employee benefit payments
  - Affected area: approximately eight percent of the Company’s employees
  - Headcount: approximately eight percent of the Company’s employees
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/56679/000119312523265214/0001193125-23-265214-index.htm

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