"Workday is laying off about 400 employees, citing a need to realign its resources to meet its top priorities. In a securities filing Wednesday, the California-based software provider for payroll, talent management, and expense processing said the cuts represent about 2% of its overall workforce and will primarily affect non-revenue-generating roles within its global customer service team. It said it plans to continue to hire in strategic areas and locations."
"Workday didn't cite artificial intelligence in its filing as a reason for the layoffs. Recent AI developments have, however, soured investors' outlook for many software companies. Several marquee tech stocks took a beating this week, including Workday, Intuit, and Salesforce, following the debut of Anthropic's industry-specific Claude Cowork plugin. A spokesperson for Workday declined to comment beyond the filing. Shares of Workday are down about 34% from a year ago."
Workday is laying off about 400 employees, roughly 2% of its global workforce, and says the cuts will mainly affect non-revenue-generating roles within its customer service organization. The company plans to continue hiring in strategic areas and locations despite the reductions. The filing did not cite artificial intelligence as a reason for the layoffs, though recent AI developments have pressured investor sentiment across software firms. Several major tech stocks fell after Anthropic released an industry-specific Claude Cowork plugin. Workday's shares are down about 34% year-over-year. The company faces a class-action lawsuit alleging AI-based discrimination, which it denies.
Read at Business Insider
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