Pegasystems, a US software business, is restructuring its customer success responsibilities by letting go of about 240 workers. This is the company’s second layoff of the year.
According to a report by The Economic Times, Pegasystems, a US-based software business, is letting go of roughly 240 workers globally as a result of the restructuring of its customer success responsibilities.
The corporation announced in a statement that it intended to lay off about 4% of its personnel. According to a report by ET, quoting the Boston Business Journal, it stated that Pega anticipates some employment layoffs in the state of Massachusetts.
To streamline our client engagement strategy and better support our business goal, these will be go-to-market positions. The company’s goal is to enhance its go-to-market operational approach, according to the company filing, which ET reported.
Notably, this is Pegasystems’ second job reduction this year after the company let go of almost 4% of its large employees.
According to Jefferies and TrueUp, there have been 342,671 layoffs in the tech sector so far this year, significantly more than the 243,075 for the entire previous year. According to Bloomberg, data from layoffs.fyi reveals a similar pattern.
Despite a boom in interest in artificial intelligence, which calls for people with specialized expertise, tech businesses aren’t yet ramping up hiring after large layoffs over the previous year.
Still, an analysis by research firm Jefferies, citing both proprietary and data from the job marketplace TrueUp, as per Bloomberg reports, found that job losses in the tech sector appeared to decelerate in June and July and are on track to be even lower this month.
According to the data, there are still few available positions in the tech sector, which is consistent with general economic trends that point to a possible weakening of labor demand.
According to a federal data released earlier this month, there were fewer job opportunities in the US in June than there had been since April 2021. Additionally, layoffs decreased to their lowest level since the end of last year, indicating that firms are reluctant to fire employees.
