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GOODWILL AND INTANGIBLE ASSETS (Tables) | 6 Months Ended
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Jun. 29, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of goodwill | The following table reflects changes in the carrying amount of goodwill during the period by reportable segment:
(in thousands) | PeopleReady | PeopleManagement | PeopleSolutions | Total company
Balance at | December 29, 2024 |  |  |  |
Goodwill before impairment | $ | 105,284 |  | $ | 81,092 |  | $ | 141,694 |  | $ | 328,070 |
Accumulated impairment charge | (105,284) |  | (79,601) |  | (118,642) |  | (303,527) |
Goodwill | — |  | 1,491 |  | 23,052 |  | 24,543 |
Acquired goodwill (1) | — |  | — |  | 17,491 |  | 17,491 |
Foreign currency translation | — |  | — |  | 535 |  | 535 |
Balance at | June 29, 2025 |  |  |  |
Goodwill before impairment | 105,284 |  | 81,092 |  | 159,720 |  | 346,096 |
Accumulated impairment charge | (105,284) |  | (79,601) |  | (118,642) |  | (303,527) |
Goodwill | $ | — |  | $ | 1,491 |  | $ | 41,078 |  | $ | 42,569 |
(1)Effective January 31, 2025, the company acquired HSP. The goodwill associated with the acquisition has been assigned to the HSP reporting unit, and included within the PeopleSolutions reportable segment (previously known as PeopleScout) based on our preliminary purchase price allocation. Refer to Note 2: Acquisition for additional details. Effective March 31, 2025 (the first day of our fiscal second quarter of 2025), we combined our PeopleScout RPO and PeopleScout MSP reporting units into one reporting unit, PeopleScout. This change coincided with the elimination of PeopleScout MSP as an operating segment within the PeopleSolutions reportable segment (refer to Note 13: Segment Information for additional details). Immediately before the combination, we tested the PeopleScout RPO reporting unit, with a remaining goodwill balance of $22.4 million, and the PeopleScout MSP reporting unit, with a remaining goodwill balance of $0.8 million, for impairment. The PeopleScout RPO reporting unit’s fair value was substantially in excess of its carrying value, and the PeopleScout MSP reporting unit’s fair value approximated its carrying value. After combining the reporting units, the fair value of the PeopleScout reporting unit was substantially in excess of its carrying value. As a result, no impairment charge was recognized. We performed our annual impairment test as of the first day of our fiscal second quarter of 2025, for our reporting units with remaining goodwill: Centerline, PeopleScout and HSP. The fair value of each reporting unit was estimated using a weighting of the income and market valuation approaches. The income approach applied a fair value methodology to each reporting unit based on discounted cash flows. This analysis requires significant judgments, including estimation of future cash flows, which is dependent on internally-developed forecasts, estimation of the long-term rate of growth for our business, estimation of the useful life over which cash flows will occur, and determination of our weighted average cost of capital, which is risk-adjusted to reflect the specific risk profile of the reporting unit being tested. The weighted average cost of capital used in our most recent impairment test ranged from 14.5% to 16.5%. We also applied a market approach, which develops a value correlation based on the market capitalization of similar publicly traded companies, referred to as a multiple, to apply to the operating results of the reporting units. The primary market multiples to which we compare are revenue and earnings before interest, taxes, depreciation, and amortization. The income and market approaches were equally weighted in our most recent annual impairment test. The combined fair values for all reporting units were then reconciled to our aggregate market value of our shares of common stock on the date of valuation, while considering a reasonable control premium. We consider a reporting unit’s fair value to be substantially in excess of its carrying value at a 20% premium or greater. Based on our annual impairment test, all of our reporting units’ fair values were substantially in excess of their respective carrying values, except for HSP, for which the estimated fair value was in excess of its carrying value by approximately 5%. This level of headroom is expected, due to the short amount of time that has passed between the acquisition date, when the carrying value of the reporting unit approximated its fair value, and our annual impairment test as of the first day of our fiscal second quarter of 2025. The goodwill balance for HSP as of June 29, 2025 was $17.5 million. Any significant adverse change in our near- or long-term projections or macroeconomic conditions could result in future impairment charges. We will continue to closely monitor the operational performance of this reporting unit. Additionally, following performance of the annual impairment test we did not identify any events or conditions that make it more likely than not that an impairment may have occurred during the thirteen weeks ended June 29, 2025. Accordingly, no impairment charge was recognized during the thirteen or twenty-six weeks ended June 29, 2025.
Schedule of Finite-Lived Intangible Assets | The following table presents our purchased finite-lived intangible assets:
| June 29, 2025 |  | December 29, 2024
(in thousands) | Gross carrying amount | Accumulated amortization | Net carrying amount |  | Gross carrying amount | Accumulated amortization | Net carrying amount
Finite-lived intangible assets (1): |  |  |  |  |  |  |
Customer relationships | $ | 14,300 |  | $ | (993) |  | $ | 13,307 |  |  | $ | 2,637 |  | $ | (2,448) |  | $ | 189 |
Trade names/trademarks | 2,434 |  | (931) |  | 1,503 |  |  | 1,632 |  | (758) |  | 874 |
Total finite-lived intangible assets | $ | 16,734 |  | $ | (1,924) |  | $ | 14,810 |  |  | $ | 4,269 |  | $ | (3,206) |  | $ | 1,063 |
(1)Excludes assets that are fully amortized.

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