TrueBlue (TBI) 10-Q23 Oct 232023 Q3 Quarterly reportFinancial data

Company Profile

COVER PAGE

COVER PAGE - shares	9 Months Ended
COVER PAGE - shares	Sep. 24, 2023	Oct. 18, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 24, 2023
Document Transition Report	false
Entity File Number	001-14543
Entity Registrant Name	TrueBlue, Inc.
Entity Incorporation, State or Country Code	WA
Entity Tax Identification Number	91-1287341
Entity Address, Address Line One	1015 A Street
Entity Address, City or Town	Tacoma
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98402
City Area Code	253
Local Phone Number	383-9101
Title of 12(b) Security	Common stock, no par value
Trading Symbol	TBI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Stock Shares Outstanding (in shares)		31,139,746
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000768899
Current Fiscal Year End Date	--12-31

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 24, 2023	Dec. 25, 2022
Current assets:
Cash and cash equivalents	$ 47,113	$ 72,054
Accounts receivable, net of allowance of $2,762 and $3,212	276,233	314,275
Prepaid expenses and other current assets	23,021	32,530
Income tax receivable	13,239	11,353
Total current assets	359,606	430,212
Property and equipment, net	102,809	95,823
Restricted cash and investments	198,829	213,734
Deferred income taxes, net	29,120	25,842
Goodwill	84,753	93,784
Intangible assets, net	11,823	16,205
Operating lease right-of-use assets, net	52,393	50,823
Workers’ compensation claims receivable, net	61,858	75,185
Other assets, net	13,840	17,800
Total assets	915,031	1,019,408
Current liabilities:
Accounts payable and other accrued expenses	48,879	76,644
Accrued wages and benefits	87,080	92,237
Income tax payable	158	1,137
Current portion of workers’ compensation claims reserve	44,091	50,005
Current operating lease liabilities	12,438	11,963
Other current liabilities	7,928	10,889
Total current liabilities	200,574	242,875
Workers’ compensation claims reserve, less current portion	173,361	201,005
Long-term deferred compensation liabilities	31,323	26,213
Long-term operating lease liabilities	51,651	50,601
Other long-term liabilities	1,496	2,399
Total liabilities	458,405	523,093
Commitments and contingencies (Note 8)
Shareholders’ equity:
Preferred stock, $0.131 par value, 20,000,000 shares authorized; No shares issued and outstanding	0	0
Common stock, no par value, 100,000,000 shares authorized; 31,108,594 and 32,729,689 shares issued and outstanding	1	1
Accumulated other comprehensive loss	(21,070)	(20,018)
Retained earnings	477,695	516,332
Total shareholders’ equity	456,626	496,315
Total liabilities and shareholders’ equity	$ 915,031	$ 1,019,408

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Sep. 24, 2023	Dec. 25, 2022
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 2,762	$ 3,212
Preferred stock, par value (in dollars per share)	$ 0.131	$ 0.131
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	31,108,594	32,729,689
Common stock, shares outstanding (in shares)	31,108,594	32,729,689

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS & COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2023	Sep. 25, 2022	Sep. 24, 2023	Sep. 25, 2022
Income Statement [Abstract]
Revenue from services	$ 473,196	$ 575,721	$ 1,414,072	$ 1,696,489
Cost of services	349,023	419,802	1,036,295	1,242,194
Gross profit	124,173	155,919	377,777	454,295
Selling, general and administrative expense	120,715	124,351	364,642	366,953
Depreciation and amortization	6,184	7,483	18,875	22,015
Goodwill and intangible asset impairment charge	0	0	9,485	0
Income (loss) from operations	(2,726)	24,085	(15,225)	65,327
Interest and other income (expense), net	390	703	1,982	1,098
Income (loss) before tax expense (benefit)	(2,336)	24,788	(13,243)	66,425
Income tax expense (benefit)	(2,326)	4,092	(1,621)	11,197
Net income (loss)	$ (10)	$ 20,696	$ (11,622)	$ 55,228
Net income (loss) per common share:
Basic (in dollars per share)	$ 0	$ 0.64	$ (0.37)	$ 1.67
Diluted (in dollars per share)	$ 0	$ 0.63	$ (0.37)	$ 1.65
Weighted average shares outstanding:
Basic (in shares)	30,932	32,434	31,397	33,023
Diluted (in shares)	30,932	32,818	31,397	33,511
Other Comprehensive Income (Loss):
Foreign currency translation adjustment	$ (1,305)	$ (3,053)	$ (1,052)	$ (4,650)
Comprehensive income (loss)	$ (1,315)	$ 17,643	$ (12,674)	$ 50,578

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 24, 2023	Sep. 25, 2022
Cash flows from operating activities:
Net income (loss)	$ (11,622)	$ 55,228
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	18,875	22,015
Goodwill and intangible asset impairment charge	9,485	0
Provision for credit losses	3,254	3,352
Stock-based compensation	10,219	7,675
Deferred income taxes	(3,344)	2,046
Non-cash lease expense	9,449	9,694
Other operating activities	(1,661)	8,772
Changes in operating assets and liabilities:
Accounts receivable	34,790	21,388
Income taxes receivable and payable	(3,001)	186
Other assets	26,795	(564)
Accounts payable and other accrued expenses	(26,879)	(22,935)
Accrued wages and benefits	(5,156)	(10,277)
Workers’ compensation claims reserve	(33,558)	(4,304)
Operating lease liabilities	(9,498)	(9,673)
Other liabilities	1,421	(2,529)
Net cash provided by operating activities	19,569	80,074
Cash flows from investing activities:
Capital expenditures	(23,095)	(22,685)
Payments for company-owned life insurance	(2,347)	0
Proceeds from company-owned life insurance	1,662	0
Purchases of restricted held-to-maturity investments	(26,894)	(4,950)
Maturities of restricted held-to-maturity investments	24,118	23,697
Net cash used in investing activities	(26,556)	(3,938)
Cash flows from financing activities:
Purchases and retirement of common stock	(34,178)	(60,939)
Net proceeds from employee stock purchase plans	704	780
Common stock repurchases for taxes upon vesting of restricted stock	(3,759)	(4,347)
Other	(96)	(203)
Net cash used in financing activities	(37,329)	(64,709)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(757)	(2,482)
Net change in cash, cash equivalents and restricted cash	(45,073)	8,945
Cash, cash equivalents and restricted cash, beginning of period	135,631	103,185
Cash, cash equivalents and restricted cash, end of period	90,558	112,130
Supplemental Disclosure of Cash Flow Information [Abstract]
Interest	721	828
Income taxes	4,732	8,907
Operating lease liabilities	11,718	11,824
Property and equipment purchased but not yet paid	3,550	3,131
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 10,943	$ 7,015

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Sep. 24, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Financial statement preparation The accompanying unaudited consolidated financial statements (“financial statements”) of TrueBlue, Inc. (the “company,” “TrueBlue,” “we,” “us,” and “our”) are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, certain information and footnote disclosures usually found in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The financial statements reflect all adjustments which, in the opinion of management, are necessary to fairly state the financial statements for the interim periods presented. We follow the same accounting policies for preparing both quarterly and annual financial statements. The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. These financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended December 25, 2022. The results of operations for the thirty-nine weeks ended September 24, 2023 are not necessarily indicative of the results expected for the full fiscal year nor for any other fiscal period. Recently adopted accounting standards There were no new accounting standards adopted during the thirty-nine weeks ended September 24, 2023 that had a material impact on our financial statements. Recently issued accounting standards not yet adopted There are no accounting standards which have not yet been adopted that are expected to have a significant impact on our financial statements and related disclosures.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	9 Months Ended
FAIR VALUE MEASUREMENT	Sep. 24, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	FAIR VALUE MEASUREMENT Assets measured at fair value on a recurring basis Our assets measured at fair value on a recurring basis consisted of the following: September 24, 2023 (in thousands) Total fair value Quoted prices in active markets for identical assets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Cash and cash equivalents $ 47,113 $ 47,113 $ — $ — Restricted cash and cash equivalents 43,445 43,445 — — Cash, cash equivalents and restricted cash (1) $ 90,558 $ 90,558 $ — $ — Municipal debt securities $ 34,066 $ — $ 34,066 $ — Corporate debt securities 77,301 — 77,301 — Agency mortgage-backed securities 8,751 — 8,751 — U.S. government and agency securities 932 — 932 — Restricted investments classified as held-to-maturity (2) $ 121,050 $ — $ 121,050 $ — December 25, 2022 (in thousands) Total fair value Quoted prices in active markets for identical assets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Cash and cash equivalents $ 72,054 $ 72,054 $ — $ — Restricted cash and cash equivalents 63,577 63,577 — — Cash, cash equivalents and restricted cash (1) $ 135,631 $ 135,631 $ — $ — Municipal debt securities $ 42,431 $ — $ 42,431 $ — Corporate debt securities 76,097 — 76,097 — Agency mortgage-backed securities 48 — 48 — U.S. government and agency securities 949 — 949 — Restricted investments classified as held-to-maturity (2) $ 119,525 $ — $ 119,525 $ — (1) Cash, cash equivalents and restricted cash include money market funds and deposits. (2) Refer to Note 3: Restricted Cash and Investments for additional details on our held-to-maturity debt securities. Assets measured at fair value on a nonrecurring basis In addition to assets that are recorded at fair value on a recurring basis, annual and interim impairment tests may subject our reporting units with goodwill and other intangible assets to nonrecurring fair value measurement. We performed our annual impairment tests for goodwill and indefinite-lived intangible assets as of the first day of our fiscal second quarter of 2023. Refer to Note 5: Goodwill and Intangible Assets for additional details on the impairment charges, valuation methodologies, and inputs used in the fair value measurements. For our 2023 annual goodwill impairment test, the fair value of each reporting unit was estimated using a weighting of the income and market approaches, except for PeopleScout MSP, which relied only on the income approach. The various inputs to these fair value models are considered Level 3. As a result of the test, goodwill with a carrying value of $9.7 million associated with the PeopleScout MSP reporting unit was impaired, and an impairment charge of $8.9 million was recognized on our Consolidated Statements of Operations and Comprehensive Income (Loss) for the thirty-nine weeks ended September 24, 2023. For our 2023 annual indefinite-lived intangible asset impairment test, the fair value of our trade names/trademarks were estimated utilizing the relief from royalty method. The various inputs to this fair value model are considered Level 3. As a result of the test, one of our trade names/trademarks with a carrying value of $3.9 million was written down to its fair value, and an impairment charge of $0.6 million was recognized on our Consolidated Statements of Operations and Comprehensive Income (Loss) for the thirty-nine weeks ended September 24, 2023.

RESTRICTED CASH AND INVESTMENTS

RESTRICTED CASH AND INVESTMENTS	9 Months Ended
RESTRICTED CASH AND INVESTMENTS	Sep. 24, 2023
Restricted Cash and Investments [Abstract]
RESTRICTED CASH AND INVESTMENTS	RESTRICTED CASH AND INVESTMENTS The following is a summary of the carrying value of our restricted cash and investments: (in thousands) September 24, December 25, Cash collateral held by insurance carriers $ 24,727 $ 29,567 Cash and cash equivalents held in Trust 17,842 30,857 Investments held in Trust 125,379 123,678 Company-owned life insurance policies 30,005 26,479 Other restricted cash and cash equivalents 876 3,153 Total restricted cash and investments $ 198,829 $ 213,734 Held-to-maturity Restricted cash and investments include collateral that has been provided or pledged to insurance carriers for workers’ compensation and state workers’ compensation programs. Our insurance carriers and certain state workers’ compensation programs require us to collateralize a portion of our workers’ compensation obligation. The collateral typically takes the form of cash and cash equivalents and highly rated investment grade securities, primarily in debt and asset-backed securities. The majority of our collateral obligations are held in a trust at the Bank of New York Mellon (“Trust”). The amortized cost and estimated fair value of our held-to-maturity investments held in Trust, aggregated by investment category as of September 24, 2023 and December 25, 2022, were as follows: September 24, 2023 (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Municipal debt securities $ 34,783 $ — $ (717) $ 34,066 Corporate debt securities 80,759 — (3,458) 77,301 Agency mortgage-backed securities 8,839 — (88) 8,751 U.S. government and agency securities 998 — (66) 932 Total held-to-maturity investments $ 125,379 $ — $ (4,329) $ 121,050 December 25, 2022 (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Municipal debt securities $ 42,892 $ 2 $ (463) $ 42,431 Corporate debt securities 79,736 4 (3,643) 76,097 Agency mortgage-backed securities 50 — (2) 48 U.S. government and agency securities 1,000 — (51) 949 Total held-to-maturity investments $ 123,678 $ 6 $ (4,159) $ 119,525 The amortized cost and fair value by contractual maturity of our held-to-maturity investments are as follows: September 24, 2023 (in thousands) Amortized cost Fair value Due in one year or less $ 32,068 $ 31,617 Due after one year through five years 85,528 81,848 Due after five years through ten years 7,783 7,585 Total held-to-maturity investments $ 125,379 $ 121,050 Actual maturities may differ from contractual maturities because the issuers of certain debt securities have the right to call or prepay their obligations without penalty. We have no significant concentrations of counterparties in our held-to-maturity investment portfolio. Company-owned life insurance policies We hold company-owned life insurance policies to support our deferred compensation liability. During the thirteen and thirty-nine weeks ended September 24, 2023, we received proceeds from company-owned life insurance policies of $1.7 million, of which $1.4 million was in excess of the cash surrender value of the related policies and recognized in selling, general and administrative (“SG&A”) expense on our Consolidated Statements of Operations and Comprehensive Income (Loss). Unrealized gains and losses related to investments still held at September 24, 2023 and September 25, 2022, which are included in SG&A expense on our Consolidated Statements of Operations and Comprehensive Income (Loss), were as follows: Thirteen weeks ended Thirty-nine weeks ended (in thousands) September 24, September 25, September 24, September 25, Unrealized gains (losses) $ (493) $ (1,516) $ 1,482 $ (7,076)

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
GOODWILL AND INTANGIBLE ASSETS	Sep. 24, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS Goodwill The following table reflects changes in the carrying amount of goodwill during the period by reportable segment: (in thousands) PeopleReady PeopleScout PeopleManagement Total company Balance at December 25, 2022 Goodwill before impairment $ 106,304 $ 141,956 $ 81,092 $ 329,352 Accumulated impairment charge (46,210) (109,757) (79,601) (235,568) Goodwill, net 60,094 32,199 1,491 93,784 Impairment charge — (8,885) — (8,885) Foreign currency translation — (146) — (146) Balance at September 24, 2023 Goodwill before impairment 106,304 141,810 81,092 329,206 Accumulated impairment charge (46,210) (118,642) (79,601) (244,453) Goodwill, net $ 60,094 $ 23,168 $ 1,491 $ 84,753 We performed our annual impairment test as of the first day of our fiscal second quarter of 2023, for our reporting segments with remaining goodwill: PeopleReady; PeopleManagement Centerline; PeopleScout RPO; and PeopleScout MSP. 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 13.0% to 13.5%. 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, except for PeopleScout MSP which relied only on the income approach. 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 most recent impairment test, all of our reporting units’ fair values were substantially in excess of their respective carrying values, except for PeopleScout MSP. As a result of our 2023 annual impairment test, we concluded that the carrying amount of the PeopleScout MSP reporting unit exceeded its fair value and we recorded a non-cash goodwill impairment charge of $8.9 million, which was included in goodwill and intangible asset impairment charge on our Consolidated Statements of Operations and Comprehensive Income (Loss) for the thirty-nine weeks ended September 24, 2023. The PeopleScout MSP goodwill impairment was related to our revised internal revenue projections, which anticipated the current year declining trends would continue into future periods. These projections were updated based on our then-current outlook and a recent industry analysis, which indicated that our business would underperform due to a strategic lack of investment in technology within an increasingly competitive market. The remaining goodwill balance for the PeopleScout MSP reporting unit was $0.8 million as of September 24, 2023. 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 additional impairment may have occurred. Accordingly, no further impairment loss was recognized during the thirty-nine weeks ended September 24, 2023. Intangible assets Indefinite-lived intangible assets We held indefinite-lived trade names/trademarks of $5.4 million and $6.0 million as of September 24, 2023 and December 25, 2022, respectively, related to businesses within our PeopleScout and PeopleManagement segments. As a result of our 2023 annual impairment test, we concluded that the carrying amount of a trade name/trademark related to the PeopleManagement segment exceeded its estimated fair value and recorded a non-cash impairment charge of $0.6 million, which was included in goodwill and intangible asset impairment charge on our Consolidated Statements of Operations and Comprehensive Income (Loss) for the thirty-nine weeks ended September 24, 2023. The charge was primarily the result of an increase in the discount rate, as well as lower projected revenues given our then-current outlook. The remaining balance for this trade name/trademark was $3.3 million as of September 24, 2023. Additionally, following performance of the annual impairment test, we did not identify any additional events or conditions that make it more likely than not that an additional impairment may have occurred. Accordingly, no further impairment loss was recognized during the thirty-nine weeks ended September 24, 2023. Finite-lived intangible assets We did not identify any events or conditions that make it more likely than not that an impairment of our finite-lived intangible assets may have occurred during the thirty-nine weeks ended September 24, 2023.

SUPPLEMENTAL BALANCE SHEET INFO

SUPPLEMENTAL BALANCE SHEET INFORMATION	9 Months Ended
SUPPLEMENTAL BALANCE SHEET INFORMATION	Sep. 24, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUPPLEMENTAL BALANCE SHEET INFORMATION	SUPPLEMENTAL BALANCE SHEET INFORMATION Accounts receivable allowance for credit losses The activity related to the accounts receivable allowance for credit losses was as follows: Thirty-nine weeks ended (in thousands) September 24, September 25, Beginning balance $ 3,212 $ 6,687 Current period provision 3,254 3,352 Write-offs (3,702) (6,731) Foreign currency translation (2) (22) Ending balance $ 2,762 $ 3,286 Prepaid expenses and other current assets The balance of prepaid expenses and other current assets was made up of the following: (in thousands) September 24, December 25, Prepaid software agreements $ 8,626 $ 9,994 Other prepaid expenses 8,640 9,455 Other current assets 5,755 13,081 Prepaid expenses and other current assets $ 23,021 $ 32,530

WORKERS' COMPENSATION INSURANCE

WORKERS' COMPENSATION INSURANCE AND RESERVES	9 Months Ended
WORKERS' COMPENSATION INSURANCE AND RESERVES	Sep. 24, 2023
Workers' Compensation Insurance and Reserves [Abstract]
WORKERS' COMPENSATION INSURANCE AND RESERVES	WORKERS' COMPENSATION INSURANCE AND RESERVES We provide workers’ compensation insurance for our associates and permanent employees. The majority of our current workers’ compensation insurance policies cover claims for a particular event above our $5.0 million deductible limit, on a “per occurrence” basis. This results in our business being substantially self-insured. Our workers’ compensation reserve for claims below the deductible limit is discounted to its estimated net present value. The discount rates used to estimate net present value are based on average returns of “risk-free” U.S. Treasury instruments available during the year in which the liability was incurred and the weighted average duration of the payments against the self-insured claims. Payments made against self-insured claims are made over a weighted average period of approximately 6 years as of September 24, 2023. The weighted average discount rate was 2.3% and 2.0% at September 24, 2023 and December 25, 2022, respectively. The following table presents a reconciliation of the undiscounted workers’ compensation reserve to the discounted workers’ compensation reserve for the periods presented: (in thousands) September 24, December 25, Undiscounted workers’ compensation reserve $ 237,242 $ 270,468 Less discount on workers’ compensation reserve 19,790 19,458 Workers’ compensation reserve, net of discount 217,452 251,010 Less current portion 44,091 50,005 Long-term portion $ 173,361 $ 201,005 Payments made against self-insured claims were $32.6 million and $28.1 million for the thirty-nine weeks ended September 24, 2023 and September 25, 2022, respectively. Our workers’ compensation reserve includes estimated expenses related to claims above our self-insured limits (“excess claims”), and we record a corresponding receivable for the insurance coverage on excess claims based on the contractual policy agreements we have with insurance carriers. We discount this reserve and corresponding receivable to its estimated net present value using the discount rates based on average returns of “risk-free” U.S. Treasury instruments available during the year in which the liability was incurred and the weighted average duration of the payments against the excess claims. The claim payments are made and the corresponding reimbursements from our insurance carriers are received over an estimated weighted average period of approximately 17 years. The rates used to discount excess claims incurred during the thirty-nine weeks ended September 24, 2023 and fifty-two weeks ended December 25, 2022 were 3.9% and 3.0%, respectively. The discounted workers’ compensation reserve for excess claims was $63.1 million and $76.7 million, as of September 24, 2023 and December 25, 2022, respectively. The discounted receivables from insurance companies, net of valuation allowance, were $61.9 million and $75.2 million as of September 24, 2023 and December 25, 2022, respectively.

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
LONG-TERM DEBT	Sep. 24, 2023
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT We have a revolving credit agreement with Bank of America, N.A., Wells Fargo Bank, N.A., PNC Bank, N.A., KeyBank, N.A. and HSBC Bank USA, N.A., which provides for a revolving line of credit of up to $300.0 million, and is currently set to mature on March 16, 2025 (“Revolving Credit Facility”). We have an option to increase the amount to $450.0 million, subject to lender approval. Included in the Revolving Credit Facility is a $30.0 million sub-limit for “Swingline” loans and a $125.0 million sub-limit for letters of credit. At September 24, 2023, $7.2 million was utilized by outstanding standby letters of credit, leaving $292.8 million unused under the Revolving Credit Facility, which is constrained by our most restrictive covenant making $123.0 million available for additional borrowing. At December 25, 2022, $7.2 million was utilized by outstanding standby letters of credit. Under the terms of the Revolving Credit Facility, we pay a variable rate of interest on funds borrowed under the revolving line of credit in excess of the Swingline loans, based on the Secured Overnight Financing Rate, plus an adjustment of 0.10%, plus an applicable spread between 1.25% and 3.50%. Alternatively, at our option, we may pay interest based on a base rate plus an applicable spread between 0.25% and 1.50%. The base rate is the greater of the prime rate (as announced by Bank of America), or the federal funds rate plus 0.50%. The applicable spread is determined by the consolidated leverage ratio, as defined in the Revolving Credit Facility. Under the terms of the Revolving Credit Facility, we are required to pay a variable rate of interest on funds borrowed under the Swingline loan based on the base rate plus applicable spread between 0.25% and 1.50%, as described above. A commitment fee between 0.25% and 0.50% is applied against the Revolving Credit Facility’s unused borrowing capacity, with the specific rate determined by the consolidated leverage ratio, as defined in the Revolving Credit Facility. Letters of credit are priced at a margin between 1.00% and 3.25%, plus a fronting fee of 0.50%. Obligations under the Revolving Credit Facility are guaranteed by TrueBlue and material U.S. domestic subsidiaries, and are secured by substantially all of the assets of TrueBlue and material U.S. domestic subsidiaries. The second amendment to our credit agreement contains customary representations and warranties, events of default, and affirmative and negative covenants, including, among others, financial covenants. The following financial covenants, as defined in the Revolving Credit Facility, were in effect as of September 24, 2023: • Consolidated leverage ratio less than 3.00, defined as our funded indebtedness divided by trailing twelve months consolidated EBITDA, as defined in the amended credit agreement. As of September 24, 2023, our consolidated leverage ratio was 0.17. • Consolidated fixed charge coverage ratio greater than 1.25, defined as the trailing twelve months bank-adjusted cash flow divided by cash interest expense. As of September 24, 2023, our consolidated fixed charge coverage ratio was 27.83. As of September 24, 2023, we were in compliance with all effective covenants related to the Revolving Credit Facility.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 24, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Workers’ compensation commitments We have provided our insurance carriers and certain states with commitments in the form and amounts listed below: (in thousands) September 24, December 25, Cash collateral held by workers’ compensation insurance carriers $ 18,872 $ 23,716 Cash and cash equivalents held in Trust 17,842 30,857 Investments held in Trust 125,379 123,678 Letters of credit (1) 6,077 6,077 Surety bonds (2) 20,725 20,806 Total collateral commitments $ 188,895 $ 205,134 (1) We have agreements with certain financial institutions to issue letters of credit as collateral. (2) Our surety bonds are issued by independent insurance companies on our behalf and bear annual fees based on a percentage of the bond, which are determined by each independent surety carrier. These fees do not exceed 2.0% of the bond amount, subject to a minimum charge. The terms of these bonds are subject to review and renewal every one Legal contingencies and developments We are involved in various proceedings arising in the normal course of conducting business. We believe the liabilities included in our financial statements reflect the probable loss that can be reasonably estimated and are immaterial. We also believe that the aggregate range of reasonably possible losses for the Company's exposure in excess of the amount accrued is expected to be immaterial to the Company. It remains possible that despite our current belief, material differences in actual outcomes or changes in management's evaluation or predictions could arise that could have a material effect on the Company's financial condition, results of operations or cash flows.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	9 Months Ended
SHAREHOLDERS' EQUITY	Sep. 24, 2023
Shareholders' Equity [Abstract]
SHAREHOLDER’S EQUITY	SHAREHOLDERS' EQUITY Changes in the balance of each component of shareholders’ equity during the reporting periods were as follows: Thirteen weeks ended Thirty-nine weeks ended (in thousands) September 24, September 25, September 24, September 25, Common stock shares Beginning balance 30,996 32,684 32,730 34,861 Purchases and retirement of common stock — — (1,877) (2,234) Net issuance under equity plans, including tax benefits 113 9 256 66 Stock-based compensation — — — — Ending balance 31,109 32,693 31,109 32,693 Common stock amount Beginning balance $ 1 $ 1 $ 1 $ 1 Current period activity — — — — Ending balance 1 1 1 1 Retained earnings Beginning balance 473,809 483,296 516,332 508,813 Net income (loss) (10) 20,696 (11,622) 55,228 Purchases and retirement of common stock (1) 22 — (34,178) (60,939) Net issuance under equity plans, including tax benefits (1,051) 30 (3,056) (3,567) Stock-based compensation 4,925 3,188 10,219 7,675 Ending balance 477,695 507,210 477,695 507,210 Accumulated other comprehensive loss Beginning balance, net of tax (19,765) (17,344) (20,018) (15,747) Foreign currency translation adjustment (1,305) (3,053) (1,052) (4,650) Ending balance, net of tax (21,070) (20,397) (21,070) (20,397) Total shareholders’ equity ending balance $ 456,626 $ 486,814 $ 456,626 $ 486,814 (1) Under applicable Washington State law, shares purchased are not displayed separately as treasury stock on our Consolidated Balance Sheets and are treated as authorized but unissued shares. It is our accounting policy to first record these purchases and the related excise tax as a reduction to our common stock account. Once the common stock account has been reduced to a nominal balance, remaining purchases are recorded as a reduction to our retained earnings. Furthermore, activity in our common stock account related to stock-based compensation is also recorded to retained earnings until such time as the reduction to retained earnings due to stock repurchases has been recovered.

INCOME TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 24, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Our income tax provision for interim periods is determined using an estimate of our annual effective tax rate, adjusted for any discrete items that are taken into account in the relevant period. Each quarter we update our estimate of the annual effective tax rate and, if our estimated tax rate changes, we make a cumulative adjustment. Our quarterly tax provision and quarterly estimate of our annual effective tax rate are subject to variation due to several factors, including variability in accurately predicting our full year pre-tax income and loss by jurisdiction, tax credits, government audit developments, changes in laws, regulations and administrative practices, and relative changes in expenses or losses for which tax benefits are not recognized. Additionally, our effective tax rate can be more or less volatile based on the amount of pre-tax income. For example, the impact of discrete items, tax credits, and non-deductible expenses on our effective tax rate is greater when our pre-tax income is lower. Our effective income tax rate for the thirty-nine weeks ended September 24, 2023 was 12.2%. The difference between the statutory federal income tax rate of 21.0% and our effective tax rate was primarily due to a non-deductible goodwill impairment charge and the federal Work Opportunity Tax Credit (“WOTC”). WOTC is designed to encourage employers to hire workers from certain targeted groups with higher than average unemployment rates. Other differences between the statutory federal income tax rate and our effective tax rate result from certain other non-deductible and non-taxable items, the tax impact of stock-based compensation, and state and foreign income taxes.

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE	9 Months Ended
NET INCOME (LOSS) PER SHARE	Sep. 24, 2023
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER SHARE	NET INCOME (LOSS) PER SHARE Diluted common shares were calculated as follows: Thirteen weeks ended Thirty-nine weeks ended (in thousands, except per share data) September 24, September 25, September 24, September 25, Net income (loss) $ (10) $ 20,696 $ (11,622) $ 55,228 Weighted average number of common shares used in basic net income (loss) per common share 30,932 32,434 31,397 33,023 Dilutive effect of non-vested stock-based awards — 384 — 488 Weighted average number of common shares used in diluted net income (loss) per common share 30,932 32,818 31,397 33,511 Net income (loss) per common share: Basic $ 0.00 $ 0.64 $ (0.37) $ 1.67 Diluted $ 0.00 $ 0.63 $ (0.37) $ 1.65 Anti-dilutive shares 945 485 937 439

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
SEGMENT INFORMATION	Sep. 24, 2023
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Our operating segments and reportable segments are described below: Our PeopleReady reportable segment provides blue-collar, contingent staffing through the PeopleReady operating segment. PeopleReady provides on-demand and skilled labor in a broad range of industries that include construction, transportation, manufacturing, retail, hospitality and renewable energy. Our PeopleScout reportable segment provides high-volume, permanent employee recruitment process outsourcing, employer branding services and management of outsourced labor service providers through the following operating segments, which we have aggregated into one reportable segment in accordance with U.S. GAAP: • PeopleScout RPO : Outsourced recruitment of permanent employees on behalf of clients and employer branding services; and • PeopleScout MSP : Management of multiple third-party staffing vendors on behalf of clients. Our PeopleManagement reportable segment provides contingent labor and outsourced industrial workforce solutions, primarily on-site at the client’s facility, through the following operating segments, which we have aggregated into one reportable segment in accordance with U.S. GAAP: • PeopleManagement On-Site : On-site management and recruitment for the contingent industrial workforce of manufacturing, warehousing and distribution facilities; and • PeopleManagement Centerline : Recruitment and management of contingent and dedicated commercial drivers to the transportation and distribution industries. The following table presents our revenue disaggregated by major source and segment and a reconciliation of segment revenue from services to total company revenue: Thirteen weeks ended Thirty-nine weeks ended (in thousands) September 24, September 25, September 24, September 25, Revenue from services: Contingent staffing PeopleReady $ 283,187 $ 334,639 $ 811,133 $ 958,272 PeopleManagement 137,065 163,618 420,809 489,375 Human resource outsourcing PeopleScout 52,944 77,464 182,130 248,842 Total company $ 473,196 $ 575,721 $ 1,414,072 $ 1,696,489 The following table presents a reconciliation of segment profit to income (loss) before tax expense (benefit): Thirteen weeks ended Thirty-nine weeks ended (in thousands) September 24, September 25, September 24, September 25, Segment profit: PeopleReady $ 9,656 $ 28,732 $ 18,686 $ 65,276 PeopleManagement 2,134 4,463 4,182 11,670 PeopleScout 6,272 10,707 24,012 42,272 Total segment profit 18,062 43,902 46,880 119,218 Corporate unallocated expense (8,122) (9,396) (23,045) (23,225) Third-party processing fees for hiring tax credits (90) (162) (320) (486) Amortization of software as a service assets (1,064) (729) (2,884) (2,175) Goodwill and intangible asset impairment charge — — (9,485) — PeopleReady technology upgrade costs (696) (1,858) (902) (6,156) Executive leadership transition costs (2,492) — (2,492) 1,422 Other benefits (costs) (2,140) (189) (4,102) (1,256) Depreciation and amortization (6,184) (7,483) (18,875) (22,015) Income (loss) from operations (2,726) 24,085 (15,225) 65,327 Interest and other income (expense), net 390 703 1,982 1,098 Income (loss) before tax expense (benefit) $ (2,336) $ 24,788 $ (13,243) $ 66,425 Asset information by reportable segment is not presented as we do not manage our segments on a balance sheet basis.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 24, 2023	Sep. 25, 2022	Sep. 24, 2023	Sep. 25, 2022
Pay vs Performance Disclosure
Net income (loss)	$ (10)	$ 20,696	$ (11,622)	$ 55,228

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 24, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 24, 2023
Accounting Policies [Abstract]
Basis of presentation	Financial statement preparation The accompanying unaudited consolidated financial statements (“financial statements”) of TrueBlue, Inc. (the “company,” “TrueBlue,” “we,” “us,” and “our”) are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, certain information and footnote disclosures usually found in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The financial statements reflect all adjustments which, in the opinion of management, are necessary to fairly state the financial statements for the interim periods presented. We follow the same accounting policies for preparing both quarterly and annual financial statements. The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. These financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended December 25, 2022. The results of operations for the thirty-nine weeks ended September 24, 2023 are not necessarily indicative of the results expected for the full fiscal year nor for any other fiscal period.
Recently adopted accounting standards and recently issued accounting pronouncements not yet adopted	Recently adopted accounting standards There were no new accounting standards adopted during the thirty-nine weeks ended September 24, 2023 that had a material impact on our financial statements. Recently issued accounting standards not yet adopted There are no accounting standards which have not yet been adopted that are expected to have a significant impact on our financial statements and related disclosures.

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	9 Months Ended
FAIR VALUE MEASUREMENT (Tables)	Sep. 24, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	Our assets measured at fair value on a recurring basis consisted of the following: September 24, 2023 (in thousands) Total fair value Quoted prices in active markets for identical assets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Cash and cash equivalents $ 47,113 $ 47,113 $ — $ — Restricted cash and cash equivalents 43,445 43,445 — — Cash, cash equivalents and restricted cash (1) $ 90,558 $ 90,558 $ — $ — Municipal debt securities $ 34,066 $ — $ 34,066 $ — Corporate debt securities 77,301 — 77,301 — Agency mortgage-backed securities 8,751 — 8,751 — U.S. government and agency securities 932 — 932 — Restricted investments classified as held-to-maturity (2) $ 121,050 $ — $ 121,050 $ — December 25, 2022 (in thousands) Total fair value Quoted prices in active markets for identical assets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Cash and cash equivalents $ 72,054 $ 72,054 $ — $ — Restricted cash and cash equivalents 63,577 63,577 — — Cash, cash equivalents and restricted cash (1) $ 135,631 $ 135,631 $ — $ — Municipal debt securities $ 42,431 $ — $ 42,431 $ — Corporate debt securities 76,097 — 76,097 — Agency mortgage-backed securities 48 — 48 — U.S. government and agency securities 949 — 949 — Restricted investments classified as held-to-maturity (2) $ 119,525 $ — $ 119,525 $ — (1) Cash, cash equivalents and restricted cash include money market funds and deposits. (2) Refer to Note 3: Restricted Cash and Investments for additional details on our held-to-maturity debt securities.

RESTRICTED CASH AND INVESTMEN_2

RESTRICTED CASH AND INVESTMENTS (Tables)	9 Months Ended
RESTRICTED CASH AND INVESTMENTS (Tables)	Sep. 24, 2023
Restricted Cash and Investments [Abstract]
Schedule of restricted cash and investments	The following is a summary of the carrying value of our restricted cash and investments: (in thousands) September 24, December 25, Cash collateral held by insurance carriers $ 24,727 $ 29,567 Cash and cash equivalents held in Trust 17,842 30,857 Investments held in Trust 125,379 123,678 Company-owned life insurance policies 30,005 26,479 Other restricted cash and cash equivalents 876 3,153 Total restricted cash and investments $ 198,829 $ 213,734
Schedule of held-to-maturity investments	The amortized cost and estimated fair value of our held-to-maturity investments held in Trust, aggregated by investment category as of September 24, 2023 and December 25, 2022, were as follows: September 24, 2023 (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Municipal debt securities $ 34,783 $ — $ (717) $ 34,066 Corporate debt securities 80,759 — (3,458) 77,301 Agency mortgage-backed securities 8,839 — (88) 8,751 U.S. government and agency securities 998 — (66) 932 Total held-to-maturity investments $ 125,379 $ — $ (4,329) $ 121,050 December 25, 2022 (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Municipal debt securities $ 42,892 $ 2 $ (463) $ 42,431 Corporate debt securities 79,736 4 (3,643) 76,097 Agency mortgage-backed securities 50 — (2) 48 U.S. government and agency securities 1,000 — (51) 949 Total held-to-maturity investments $ 123,678 $ 6 $ (4,159) $ 119,525
Schedule of held-to-maturity investments by contractual maturity	The amortized cost and fair value by contractual maturity of our held-to-maturity investments are as follows: September 24, 2023 (in thousands) Amortized cost Fair value Due in one year or less $ 32,068 $ 31,617 Due after one year through five years 85,528 81,848 Due after five years through ten years 7,783 7,585 Total held-to-maturity investments $ 125,379 $ 121,050
Schedule of unrealized gain (loss) on equity investments	Unrealized gains and losses related to investments still held at September 24, 2023 and September 25, 2022, which are included in SG&A expense on our Consolidated Statements of Operations and Comprehensive Income (Loss), were as follows: Thirteen weeks ended Thirty-nine weeks ended (in thousands) September 24, September 25, September 24, September 25, Unrealized gains (losses) $ (493) $ (1,516) $ 1,482 $ (7,076)

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	9 Months Ended
GOODWILL AND INTANGIBLE ASSETS (Tables)	Sep. 24, 2023
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 PeopleScout PeopleManagement Total company Balance at December 25, 2022 Goodwill before impairment $ 106,304 $ 141,956 $ 81,092 $ 329,352 Accumulated impairment charge (46,210) (109,757) (79,601) (235,568) Goodwill, net 60,094 32,199 1,491 93,784 Impairment charge — (8,885) — (8,885) Foreign currency translation — (146) — (146) Balance at September 24, 2023 Goodwill before impairment 106,304 141,810 81,092 329,206 Accumulated impairment charge (46,210) (118,642) (79,601) (244,453) Goodwill, net $ 60,094 $ 23,168 $ 1,491 $ 84,753

SUPPLEMENTAL BALANCE SHEET IN_2

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)	9 Months Ended
SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)	Sep. 24, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Allowance for credit losses	The activity related to the accounts receivable allowance for credit losses was as follows: Thirty-nine weeks ended (in thousands) September 24, September 25, Beginning balance $ 3,212 $ 6,687 Current period provision 3,254 3,352 Write-offs (3,702) (6,731) Foreign currency translation (2) (22) Ending balance $ 2,762 $ 3,286
Prepaid expenses and other current assets	Prepaid expenses and other current assets The balance of prepaid expenses and other current assets was made up of the following: (in thousands) September 24, December 25, Prepaid software agreements $ 8,626 $ 9,994 Other prepaid expenses 8,640 9,455 Other current assets 5,755 13,081 Prepaid expenses and other current assets $ 23,021 $ 32,530

WORKERS' COMPENSATION INSURAN_2

WORKERS' COMPENSATION INSURANCE AND RESERVES (Tables)	9 Months Ended
WORKERS' COMPENSATION INSURANCE AND RESERVES (Tables)	Sep. 24, 2023
Workers' Compensation Insurance and Reserves [Abstract]
Reconciliation of workers' compensation claims reserve	The following table presents a reconciliation of the undiscounted workers’ compensation reserve to the discounted workers’ compensation reserve for the periods presented: (in thousands) September 24, December 25, Undiscounted workers’ compensation reserve $ 237,242 $ 270,468 Less discount on workers’ compensation reserve 19,790 19,458 Workers’ compensation reserve, net of discount 217,452 251,010 Less current portion 44,091 50,005 Long-term portion $ 173,361 $ 201,005

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
COMMITMENTS AND CONTINGENCIES (Tables)	Sep. 24, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of workers’ compensation collateral commitments	We have provided our insurance carriers and certain states with commitments in the form and amounts listed below: (in thousands) September 24, December 25, Cash collateral held by workers’ compensation insurance carriers $ 18,872 $ 23,716 Cash and cash equivalents held in Trust 17,842 30,857 Investments held in Trust 125,379 123,678 Letters of credit (1) 6,077 6,077 Surety bonds (2) 20,725 20,806 Total collateral commitments $ 188,895 $ 205,134 (1) We have agreements with certain financial institutions to issue letters of credit as collateral. (2) Our surety bonds are issued by independent insurance companies on our behalf and bear annual fees based on a percentage of the bond, which are determined by each independent surety carrier. These fees do not exceed 2.0% of the bond amount, subject to a minimum charge. The terms of these bonds are subject to review and renewal every one

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	9 Months Ended
SHAREHOLDERS' EQUITY (Tables)	Sep. 24, 2023
Shareholders' Equity [Abstract]
Schedule of Stockholders Equity	Changes in the balance of each component of shareholders’ equity during the reporting periods were as follows: Thirteen weeks ended Thirty-nine weeks ended (in thousands) September 24, September 25, September 24, September 25, Common stock shares Beginning balance 30,996 32,684 32,730 34,861 Purchases and retirement of common stock — — (1,877) (2,234) Net issuance under equity plans, including tax benefits 113 9 256 66 Stock-based compensation — — — — Ending balance 31,109 32,693 31,109 32,693 Common stock amount Beginning balance $ 1 $ 1 $ 1 $ 1 Current period activity — — — — Ending balance 1 1 1 1 Retained earnings Beginning balance 473,809 483,296 516,332 508,813 Net income (loss) (10) 20,696 (11,622) 55,228 Purchases and retirement of common stock (1) 22 — (34,178) (60,939) Net issuance under equity plans, including tax benefits (1,051) 30 (3,056) (3,567) Stock-based compensation 4,925 3,188 10,219 7,675 Ending balance 477,695 507,210 477,695 507,210 Accumulated other comprehensive loss Beginning balance, net of tax (19,765) (17,344) (20,018) (15,747) Foreign currency translation adjustment (1,305) (3,053) (1,052) (4,650) Ending balance, net of tax (21,070) (20,397) (21,070) (20,397) Total shareholders’ equity ending balance $ 456,626 $ 486,814 $ 456,626 $ 486,814 (1) Under applicable Washington State law, shares purchased are not displayed separately as treasury stock on our Consolidated Balance Sheets and are treated as authorized but unissued shares. It is our accounting policy to first record these purchases and the related excise tax as a reduction to our common stock account. Once the common stock account has been reduced to a nominal balance, remaining purchases are recorded as a reduction to our retained earnings. Furthermore, activity in our common stock account related to stock-based compensation is also recorded to retained earnings until such time as the reduction to retained earnings due to stock repurchases has been recovered.

NET INCOME (LOSS) PER SHARE (Ta

NET INCOME (LOSS) PER SHARE (Tables)	9 Months Ended
NET INCOME (LOSS) PER SHARE (Tables)	Sep. 24, 2023
Earnings Per Share [Abstract]
Schedule of net income (loss) and diluted common shares	Diluted common shares were calculated as follows: Thirteen weeks ended Thirty-nine weeks ended (in thousands, except per share data) September 24, September 25, September 24, September 25, Net income (loss) $ (10) $ 20,696 $ (11,622) $ 55,228 Weighted average number of common shares used in basic net income (loss) per common share 30,932 32,434 31,397 33,023 Dilutive effect of non-vested stock-based awards — 384 — 488 Weighted average number of common shares used in diluted net income (loss) per common share 30,932 32,818 31,397 33,511 Net income (loss) per common share: Basic $ 0.00 $ 0.64 $ (0.37) $ 1.67 Diluted $ 0.00 $ 0.63 $ (0.37) $ 1.65 Anti-dilutive shares 945 485 937 439

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
SEGMENT INFORMATION (Tables)	Sep. 24, 2023
Segment Reporting [Abstract]
Schedule of segment information	The following table presents our revenue disaggregated by major source and segment and a reconciliation of segment revenue from services to total company revenue: Thirteen weeks ended Thirty-nine weeks ended (in thousands) September 24, September 25, September 24, September 25, Revenue from services: Contingent staffing PeopleReady $ 283,187 $ 334,639 $ 811,133 $ 958,272 PeopleManagement 137,065 163,618 420,809 489,375 Human resource outsourcing PeopleScout 52,944 77,464 182,130 248,842 Total company $ 473,196 $ 575,721 $ 1,414,072 $ 1,696,489 The following table presents a reconciliation of segment profit to income (loss) before tax expense (benefit): Thirteen weeks ended Thirty-nine weeks ended (in thousands) September 24, September 25, September 24, September 25, Segment profit: PeopleReady $ 9,656 $ 28,732 $ 18,686 $ 65,276 PeopleManagement 2,134 4,463 4,182 11,670 PeopleScout 6,272 10,707 24,012 42,272 Total segment profit 18,062 43,902 46,880 119,218 Corporate unallocated expense (8,122) (9,396) (23,045) (23,225) Third-party processing fees for hiring tax credits (90) (162) (320) (486) Amortization of software as a service assets (1,064) (729) (2,884) (2,175) Goodwill and intangible asset impairment charge — — (9,485) — PeopleReady technology upgrade costs (696) (1,858) (902) (6,156) Executive leadership transition costs (2,492) — (2,492) 1,422 Other benefits (costs) (2,140) (189) (4,102) (1,256) Depreciation and amortization (6,184) (7,483) (18,875) (22,015) Income (loss) from operations (2,726) 24,085 (15,225) 65,327 Interest and other income (expense), net 390 703 1,982 1,098 Income (loss) before tax expense (benefit) $ (2,336) $ 24,788 $ (13,243) $ 66,425

FAIR VALUE MEASUREMENT - Fair V

FAIR VALUE MEASUREMENT - Fair Value Measurement (Details) - USD ($) $ in Thousands	Sep. 24, 2023	Dec. 25, 2022	Sep. 25, 2022	Dec. 26, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, cash equivalents, restricted cash and restricted cash equivalents	$ 90,558	$ 135,631	$ 112,130	$ 103,185
Restricted investments classified as held-to-maturity	121,050	119,525
Municipal debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	34,066	42,431
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	77,301	76,097
Agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	8,751	48
U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	932	949
Fair value, recurring \| Total fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	47,113	72,054
Fair value, recurring \| Total fair value \| Restricted assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash and cash equivalents	43,445	63,577
Cash, cash equivalents, restricted cash and restricted cash equivalents	90,558	135,631
Restricted investments classified as held-to-maturity	121,050	119,525
Fair value, recurring \| Total fair value \| Restricted assets \| Municipal debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	34,066	42,431
Fair value, recurring \| Total fair value \| Restricted assets \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	77,301	76,097
Fair value, recurring \| Total fair value \| Restricted assets \| Agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	8,751	48
Fair value, recurring \| Total fair value \| Restricted assets \| U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	932	949
Fair value, recurring \| Quoted prices in active markets for identical assets (level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	47,113	72,054
Fair value, recurring \| Quoted prices in active markets for identical assets (level 1) \| Restricted assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash and cash equivalents	43,445	63,577
Cash, cash equivalents, restricted cash and restricted cash equivalents	90,558	135,631
Restricted investments classified as held-to-maturity	0	0
Fair value, recurring \| Quoted prices in active markets for identical assets (level 1) \| Restricted assets \| Municipal debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	0	0
Fair value, recurring \| Quoted prices in active markets for identical assets (level 1) \| Restricted assets \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	0	0
Fair value, recurring \| Quoted prices in active markets for identical assets (level 1) \| Restricted assets \| Agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	0	0
Fair value, recurring \| Quoted prices in active markets for identical assets (level 1) \| Restricted assets \| U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	0	0
Fair value, recurring \| Significant other observable inputs (level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Fair value, recurring \| Significant other observable inputs (level 2) \| Restricted assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash and cash equivalents	0	0
Cash, cash equivalents, restricted cash and restricted cash equivalents	0	0
Restricted investments classified as held-to-maturity	121,050	119,525
Fair value, recurring \| Significant other observable inputs (level 2) \| Restricted assets \| Municipal debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	34,066	42,431
Fair value, recurring \| Significant other observable inputs (level 2) \| Restricted assets \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	77,301	76,097
Fair value, recurring \| Significant other observable inputs (level 2) \| Restricted assets \| Agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	8,751	48
Fair value, recurring \| Significant other observable inputs (level 2) \| Restricted assets \| U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	932	949
Fair value, recurring \| Significant unobservable inputs (level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Fair value, recurring \| Significant unobservable inputs (level 3) \| Restricted assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash and cash equivalents	0	0
Cash, cash equivalents, restricted cash and restricted cash equivalents	0	0
Restricted investments classified as held-to-maturity	0	0
Fair value, recurring \| Significant unobservable inputs (level 3) \| Restricted assets \| Municipal debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	0	0
Fair value, recurring \| Significant unobservable inputs (level 3) \| Restricted assets \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	0	0
Fair value, recurring \| Significant unobservable inputs (level 3) \| Restricted assets \| Agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	0	0
Fair value, recurring \| Significant unobservable inputs (level 3) \| Restricted assets \| U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments classified as held-to-maturity	$ 0	$ 0

RESTRICTED CASH AND INVESTMEN_3

RESTRICTED CASH AND INVESTMENTS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2023	Sep. 25, 2022	Sep. 24, 2023	Sep. 25, 2022	Dec. 25, 2022
Restricted Cash and Investments [Line Items]
Cash collateral held by insurance carriers	$ 24,727		$ 24,727		$ 29,567
Cash and cash equivalents held in Trust	17,842		17,842		30,857
Investments held in Trust	125,379		125,379		123,678
Company owned life insurance policies	30,005		30,005		26,479
Other restricted cash and cash equivalents	876		876		3,153
Restricted cash and investments	198,829		198,829		213,734
Held-to-maturity Securities, Reconciliation to Fair Value [Abstract]
Amortized cost of held-to-maturity investments	125,379		125,379		123,678
Gross unrealized gains	0		0		6
Gross unrealized losses	(4,329)		(4,329)		(4,159)
Fair value	121,050		121,050		119,525
Held-to-maturity securities, amortized cost [Abstract]
Amortized cost of held-to-maturity investments	125,379		125,379		123,678
Held-to-maturity securities, fair value [Abstract]
Fair value	121,050		121,050		119,525
Proceeds from company-owned life insurance	1,700		1,662	$ 0
Proceeds from company-owned life insurance, amount in excess of cash surrender value	1,400		1,400
Unrealized gains (losses) on Investments	(493)	$ (1,516)	1,482	$ (7,076)
Municipal debt securities
Held-to-maturity Securities, Reconciliation to Fair Value [Abstract]
Amortized cost of held-to-maturity investments	34,783		34,783		42,892
Gross unrealized gains	0		0		2
Gross unrealized losses	(717)		(717)		(463)
Fair value	34,066		34,066		42,431
Held-to-maturity securities, amortized cost [Abstract]
Amortized cost of held-to-maturity investments	34,783		34,783		42,892
Held-to-maturity securities, fair value [Abstract]
Fair value	34,066		34,066		42,431
Corporate debt securities
Held-to-maturity Securities, Reconciliation to Fair Value [Abstract]
Amortized cost of held-to-maturity investments	80,759		80,759		79,736
Gross unrealized gains	0		0		4
Gross unrealized losses	(3,458)		(3,458)		(3,643)
Fair value	77,301		77,301		76,097
Held-to-maturity securities, amortized cost [Abstract]
Amortized cost of held-to-maturity investments	80,759		80,759		79,736
Held-to-maturity securities, fair value [Abstract]
Fair value	77,301		77,301		76,097
Agency mortgage-backed securities
Held-to-maturity Securities, Reconciliation to Fair Value [Abstract]
Amortized cost of held-to-maturity investments	8,839		8,839		50
Gross unrealized gains	0		0		0
Gross unrealized losses	(88)		(88)		(2)
Fair value	8,751		8,751		48
Held-to-maturity securities, amortized cost [Abstract]
Amortized cost of held-to-maturity investments	8,839		8,839		50
Held-to-maturity securities, fair value [Abstract]
Fair value	8,751		8,751		48
U.S. government and agency securities
Held-to-maturity Securities, Reconciliation to Fair Value [Abstract]
Amortized cost of held-to-maturity investments	998		998		1,000
Gross unrealized gains	0		0		0
Gross unrealized losses	(66)		(66)		(51)
Fair value	932		932		949
Held-to-maturity securities, amortized cost [Abstract]
Amortized cost of held-to-maturity investments	998		998		1,000
Held-to-maturity securities, fair value [Abstract]
Fair value	932		932		$ 949
Restricted cash and investments
Held-to-maturity Securities, Reconciliation to Fair Value [Abstract]
Amortized cost of held-to-maturity investments	125,379		125,379
Fair value	121,050		121,050
Held-to-maturity securities, amortized cost [Abstract]
Due in one year or less	32,068		32,068
Due after one year through five years	85,528		85,528
Due after five years through ten years	7,783		7,783
Amortized cost of held-to-maturity investments	125,379		125,379
Held-to-maturity securities, fair value [Abstract]
Due in one year or less	31,617		31,617
Due after one year through five years	81,848		81,848
Due after five years through ten years	7,585		7,585
Fair value	$ 121,050		$ 121,050

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 24, 2023	Mar. 27, 2023	Dec. 25, 2022
Goodwill [Line Items]
Goodwill before impairment	$ 329,206		$ 329,352
Accumulated impairment loss	(244,453)		(235,568)
Goodwill, net	84,753		93,784
Goodwill impairment loss	(8,885)
Foreign currency translation	(146)
Minimum
Goodwill [Line Items]
Weighted average cost of capital		13%
Maximum
Goodwill [Line Items]
Weighted average cost of capital		13.50%
PeopleReady
Goodwill [Line Items]
Goodwill before impairment	106,304		106,304
Accumulated impairment loss	(46,210)		(46,210)
Goodwill, net	60,094		60,094
Goodwill impairment loss	0
Foreign currency translation	0
PeopleScout
Goodwill [Line Items]
Goodwill before impairment	141,810		141,956
Accumulated impairment loss	(118,642)		(109,757)
Goodwill, net	23,168		32,199
Foreign currency translation	(146)
PeopleScout \| MSP [Member]
Goodwill [Line Items]
Goodwill, net	800	$ 9,700
Goodwill impairment loss	(8,885)
PeopleManagement
Goodwill [Line Items]
Goodwill before impairment	81,092		81,092
Accumulated impairment loss	(79,601)		(79,601)
Goodwill, net	1,491		$ 1,491
Goodwill impairment loss	0
Foreign currency translation	$ 0

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 24, 2023	Mar. 27, 2023	Dec. 25, 2022
Indefinite-lived Intangible Assets [Line Items]
Goodwill impairment loss	$ (8,885)
Goodwill	84,753		$ 93,784
PeopleManagement
Indefinite-lived Intangible Assets [Line Items]
Goodwill impairment loss	0
Goodwill	1,491		1,491
Indefinite-lived trade names/trademarks	3,300	$ 3,900
Non-cash impairment charge	600
PeopleScout
Indefinite-lived Intangible Assets [Line Items]
Goodwill	23,168		32,199
Trade names/trademarks
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived trade names/trademarks	5,400		$ 6,000
MSP [Member] \| PeopleScout
Indefinite-lived Intangible Assets [Line Items]
Goodwill impairment loss	(8,885)
Goodwill	$ 800	$ 9,700
Minimum
Indefinite-lived Intangible Assets [Line Items]
Weighted average cost of capital		13%
Maximum
Indefinite-lived Intangible Assets [Line Items]
Weighted average cost of capital		13.50%

SUPPLEMENTAL BALANCE SHEET IN_3

SUPPLEMENTAL BALANCE SHEET INFORMATION - Allowance for credit losses (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 24, 2023	Sep. 25, 2022	Dec. 25, 2022	Dec. 26, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 2,762	$ 3,286	$ 3,212	$ 6,687
Provision for credit losses	3,254	3,352
Write-offs	(3,702)	(6,731)
Foreign currency translation	(2)	(22)
Ending balance	$ 2,762	$ 3,286

SUPPLEMENTAL BALANCE SHEET IN_4

SUPPLEMENTAL BALANCE SHEET INFORMATION - Prepaid expenses and other current assets (Details) - USD ($) $ in Thousands	Sep. 24, 2023	Dec. 25, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid software agreements	$ 8,626	$ 9,994
Other prepaid expenses	8,640	9,455
Other current assets	5,755	13,081
Prepaid expenses and other current assets	$ 23,021	$ 32,530

WORKERS' COMPENSATION INSURAN_3

WORKERS' COMPENSATION INSURANCE AND RESERVES - Reconciliation of Workers' Compensation Claims Reserve (Details) - USD ($) $ in Thousands	Sep. 24, 2023	Dec. 25, 2022
Workers' Compensation Insurance and Reserves [Abstract]
Undiscounted workers’ compensation reserve	$ 237,242	$ 270,468
Less discount on workers’ compensation reserve	19,790	19,458
Workers' compensation reserve, net of discount	217,452	251,010
Less current portion	44,091	50,005
Long-term portion	$ 173,361	$ 201,005

WORKERS' COMPENSATION INSURAN_4

WORKERS' COMPENSATION INSURANCE AND RESERVES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 24, 2023	Sep. 25, 2022	Sep. 24, 2023	Sep. 25, 2022	Dec. 25, 2022
Workers' Compensation Deductible Limit [Line Items]
Weighted average period for claim payments below deductible limit			6 years
Payments made against self-insured claims			$ 32.6	$ 28.1
Weighted average period for claim payments and receivables above deductible limit			17 years
Workers' compensation reserve for excess claims	$ 63.1		$ 63.1		$ 76.7
Worker's compensation receivable for excess claims	61.9		61.9		$ 75.2
Workers compensation expense	$ 7.8	$ 6.9	18.5	$ 28
Minimum
Workers' Compensation Deductible Limit [Line Items]
Workers' compensation claim deductible limit			$ 5
Below limit
Workers' Compensation Deductible Limit [Line Items]
Workers' compensation discount			2.30%		2%
Above Limit
Workers' Compensation Deductible Limit [Line Items]
Workers' compensation discount			3.90%		3%

LONG-TERM DEBT - Narrative (Det

LONG-TERM DEBT - Narrative (Details) $ in Millions	Mar. 30, 2023	Mar. 16, 2020 USD ($)	Sep. 24, 2023 USD ($)	Dec. 25, 2022 USD ($)
Revolving Credit Facility [Line Items]
Leverage ratio, threshold			3
Debt instrument, leverage ratio			0.17
Fixed charge coverage ratio, threshold			1.25
Debt instrument, fixed charge coverage ratio			27.83
Revolving Credit Facility
Revolving Credit Facility [Line Items]
Maximum borrowing capacity		$ 300
Maximum borrowing capacity subject to lender approval		$ 450
Remaining borrowing capacity			$ 292.8
Line of credit facility, maximum borrowing capacity, additional borrowings			123
Revolving Credit Facility \| Base rate
Revolving Credit Facility [Line Items]
Additional debt instrument base rate		0.50%
Revolving Credit Facility \| Secured Overnight Financing Rate (SOFR) Adjustment
Revolving Credit Facility [Line Items]
Basis spread on variable rate	0.10%
Revolving Credit Facility \| Minimum
Revolving Credit Facility [Line Items]
Unused capacity commitment fee percentage		0.25%
Revolving Credit Facility \| Minimum \| LIBOR
Revolving Credit Facility [Line Items]
Basis spread on variable rate		1.25%
Revolving Credit Facility \| Minimum \| Base rate
Revolving Credit Facility [Line Items]
Basis spread on variable rate		0.25%
Revolving Credit Facility \| Maximum
Revolving Credit Facility [Line Items]
Unused capacity commitment fee percentage		0.50%
Revolving Credit Facility \| Maximum \| LIBOR
Revolving Credit Facility [Line Items]
Basis spread on variable rate		3.50%
Revolving Credit Facility \| Maximum \| Base rate
Revolving Credit Facility [Line Items]
Basis spread on variable rate		1.50%
Swingline loan
Revolving Credit Facility [Line Items]
Maximum borrowing capacity		$ 30
Letters of credit outstanding			$ 7.2	$ 7.2
Swingline loan \| Minimum \| Base rate
Revolving Credit Facility [Line Items]
Basis spread on variable rate		0.25%
Swingline loan \| Maximum \| Base rate
Revolving Credit Facility [Line Items]
Basis spread on variable rate		1.50%
Letter of credit
Revolving Credit Facility [Line Items]
Maximum borrowing capacity		$ 125
Letter of credit \| LIBOR
Revolving Credit Facility [Line Items]
Additional letters of credit base rate		0.50%
Letter of credit \| Minimum \| LIBOR
Revolving Credit Facility [Line Items]
Basis spread on variable rate		1%
Letter of credit \| Maximum \| LIBOR
Revolving Credit Facility [Line Items]
Basis spread on variable rate		3.25%

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 24, 2023	Dec. 25, 2022
Workers' Compensation Commitments [Line Items]
Cash collateral held by workers’ compensation insurance carriers	$ 18,872	$ 23,716
Cash and cash equivalents held in Trust	17,842	30,857
Investments held in Trust	125,379	123,678
Letters of credit	6,077	6,077
Surety bonds	20,725	20,806
Total collateral commitments	$ 188,895	$ 205,134
Surety bonds annual fee limit as a percentage of bond amount	2%
Surety bonds required cancellation notice	60 days
Minimum
Workers' Compensation Commitments [Line Items]
Surety bonds review and renewal period if elected	1 year
Maximum
Workers' Compensation Commitments [Line Items]
Surety bonds review and renewal period if elected	4 years

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
SHAREHOLDERS' EQUITY (Details) - USD ($) $ in Thousands	Sep. 24, 2023	Sep. 25, 2022	Sep. 24, 2023	Sep. 25, 2022	Dec. 25, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			32,729,689
Ending balance (in shares)	31,108,594		31,108,594
Beginning balance			$ 496,315
Net income (loss)	$ (10)	$ 20,696	(11,622)	$ 55,228
Change in accounting standard cumulative-effect adjustment	477,695		477,695		$ 516,332
Foreign currency translation adjustment	(1,305)	(3,053)	(1,052)	(4,650)
Ending balance, net of tax	$ 456,626	$ 486,814	$ 456,626	$ 486,814
Common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	30,996,000	32,684,000	32,730,000	34,861,000
Purchases and retirement of common stock (in shares)	0	0	(1,877,000)	(2,234,000)
Net issuances under equity plans, including tax benefits (in shares)	113,000	9,000	256,000	66,000
Stock-based compensation (in shares)	0	0	0	0
Ending balance (in shares)	31,109,000	32,693,000	31,109,000	32,693,000
Beginning balance	$ 1	$ 1	$ 1	$ 1
Ending balance, net of tax	1	1	1	1
Retained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	473,809	483,296	516,332	508,813
Net income (loss)	(10)	20,696	(11,622)	55,228
Purchases and retirement of common stock	22	0	(34,178)	(60,939)
Net issuance under equity plans, including tax benefits	(1,051)	30	(3,056)	(3,567)
Stock-based compensation	4,925	3,188	10,219	7,675
Ending balance, net of tax	477,695	507,210	477,695	507,210
Accumulated other comprehensive loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(19,765)	(17,344)	(20,018)	(15,747)
Foreign currency translation adjustment	(1,305)	(3,053)	(1,052)	(4,650)
Ending balance, net of tax	$ (21,070)	$ (20,397)	$ (21,070)	$ (20,397)

INCOME TAXES (Details)

INCOME TAXES (Details)	9 Months Ended
INCOME TAXES (Details)	Sep. 24, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	12.20%
Statutory federal income tax rate	21%

NET INCOME (LOSS) PER SHARE (De

NET INCOME (LOSS) PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2023	Sep. 25, 2022	Sep. 24, 2023	Sep. 25, 2022
Earnings Per Share [Abstract]
Net income (loss)	$ (10)	$ 20,696	$ (11,622)	$ 55,228
Weighted average number of common shares used in basic net income per common share (in shares)	30,932	32,434	31,397	33,023
Dilutive effect of non-vested stock-based awards (in shares)	0	384	0	488
Weighted average number of common shares used in diluted net income (loss) per common share	30,932	32,818	31,397	33,511
Net income (loss) per common share:
Basic (in dollars per share)	$ 0	$ 0.64	$ (0.37)	$ 1.67
Diluted (in dollars per share)	$ 0	$ 0.63	$ (0.37)	$ 1.65
Anti-dilutive shares (in shares)	945	485	937	439

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	Sep. 24, 2023	Sep. 25, 2022	Sep. 24, 2023	Sep. 25, 2022
Segment Reporting Information [Line Items]
Revenue	$ 473,196	$ 575,721	$ 1,414,072	$ 1,696,489
Segment profit	18,062	43,902	46,880	119,218
Third-party processing fees for hiring tax credits	(90)	(162)	(320)	(486)
Amortization of software as a service assets	(1,064)	(729)	(2,884)	(2,175)
Goodwill and intangible asset impairment charge	0	0	(9,485)	0
PeopleReady technology upgrade costs	(696)	(1,858)	(902)	(6,156)
Executive Leadership Transition Costs [Abstract]	(2,492)		(2,492)	1,422
Other benefits (costs)	(2,140)	(189)	(4,102)	(1,256)
Depreciation and amortization	(6,184)	(7,483)	(18,875)	(22,015)
Income (loss) from operations	(2,726)	24,085	(15,225)	65,327
Interest and other income (expense), net	390	703	1,982	1,098
Income (loss) before tax expense (benefit)	(2,336)	24,788	(13,243)	66,425
PeopleReady
Segment Reporting Information [Line Items]
Segment profit	9,656	28,732	18,686	65,276
PeopleManagement
Segment Reporting Information [Line Items]
Segment profit	2,134	4,463	4,182	11,670
PeopleScout
Segment Reporting Information [Line Items]
Segment profit	6,272	10,707	24,012	42,272
Corporate unallocated
Segment Reporting Information [Line Items]
Corporate unallocated expense	(8,122)	(9,396)	(23,045)	(23,225)
Contingent staffing \| PeopleReady
Segment Reporting Information [Line Items]
Revenue	283,187	334,639	811,133	958,272
Contingent staffing \| PeopleManagement
Segment Reporting Information [Line Items]
Revenue	137,065	163,618	420,809	489,375
Human resource outsourcing \| PeopleScout
Segment Reporting Information [Line Items]
Revenue	$ 52,944	$ 77,464	$ 182,130	$ 248,842