Israeli cybersecurity company Checkmarx, acquired by Hellman & Friedman at $1.15 billion valuation in March 2020, laid off around 100 employees including 40 in Israel—10% of its workforce. H&F ranked 13th among world's largest PE firms in 2024. Private equity takeovers broadly associated with job losses and wage decreases; advocates have called for PE firms to commit to severance of at least one week per year of employment.
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UKG, a workforce management software company where H&F is a controlling investor, conducted 2,100 layoffs in 2024, followed by 950 more cuts in April 2026 (6% of workforce). UKG was created through H&F's 2020 merger of Kronos and Ultimate Software at $22B valuation. Despite selling "people-first workforce software," employees describe survival mode amid restructuring, AI pressure, and offshoring fears. H&F ranked 13th among world's largest PE firms in 2024 with $115B+ AUM.
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Hellman & Friedman — Worker Treatment: OPPOSED UKG, a workforce management software company where H&F is a controlling investor, conducted 2,100 layoffs in 2024, followed by 950 more cuts in April 2026 (6% of workforce). UKG… https://reciepts.tech/stance/1630
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See all →In June 2020, Hellman & Friedman joined Diligent Corporation's Modern Leadership Initiative and pledged to create five new board roles among its portfolio companies for racially diverse candidates. H&F was among 21 private equity firms partnering directly with Diligent to deepen diversity across portfolio company boards. In 2022, H&F created a senior Head of Sustainability & ESG role (filled by Zomo Fisher) to oversee ESG programs including board diversity. H&F stated that "a long-term, sustainable approach to business and investment decisions has been a core part of H&F's investment philosophy since the firm was established in 1984."