UKG Cuts 14% of Global Workforce to Focus on ‘Critical Growth’

What’s happening at UKG?

HR software company UKG is laying off 14% of its workforce, equating to about 2,200 of its 15,000 global employees.

These layoffs will affect employees across multiple locations, including the Florida headquarters and other regions in the U.S. and Canada.

Official statements and context

CEO Chris Todd informed employees of the layoffs through email on July 3, emphasizing a shift to focus on growth areas and new investments.

• “We are announcing a number of organizational changes that will allow us to aggressively focus on critical areas of growth and to provide flexibility to actively invest in important new areas,” Todd stated.
• The decision was announced ahead of the planned schedule due to internal and media speculation
• A UKG spokesperson said that support would be provided to affected employees.

UKG’s controlling shareholder is Hellman & Friedman, a 40-year-old private equity firm based in San Francisco. Ownership stakes are also held by private equity funds managed by Blackstone, the largest minority shareholder, and other investment entities including the Canada Pension Plan Investment Board.

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