Software company lays off its employees in large numbers?

Many companies have been laying off employees due to the recession that began in 2023. The year 2024 brought a glimmer of hope for software employees, but this was short-lived when the US-based company UKG announced significant layoffs. Reports indicate that approximately 14% of the workforce, equating to around 2,200 software employees, were dismissed.

The layoffs began on July 3, just ahead of the July 4 holiday. The Business Journal reported on UKG's decision, revealing that the Florida-headquartered software corporation had made these cuts to its staff. In an email to employees, CEO Chris Todd confirmed the 14% reduction.

UKG, one of the world's largest software companies with nearly 15,882 employees across various countries, stated that the layoffs are part of a strategic effort to enhance critical areas of growth and development. According to a company spokesperson, this is a long-term strategy aimed at fostering the company's progress.

Initially, CEO Chris Todd had planned to announce the layoffs the following week. Still, the process was expedited once the news broke. Todd further clarified that these job cuts are limited to the USA.