Workday is cutting 1,750 jobs, roughly 8.5% of its workforce, as part of a restructuring effort to enhance growth, specifically targeting AI investments. CEO Carl Eschenbach emphasized the need for changes at a pivotal moment as the company heads into a new fiscal year. Employees will be notified soon, and laid-off U.S. workers will receive at least 12 weeks of pay. Despite the cuts, Workday plans to continue hiring in certain areas and invest in expanding its global reach, indicating a strategic shift amidst ongoing tech industry layoffs.
“As we start our new fiscal year, we're at a pivotal moment... Companies everywhere are reimagining how work gets done, and the increasing demand for AI has the potential to drive a new era of growth for Workday.”
“I realize this is tough news, and it affects all of us,” Eschenbach added - encouraging employees to work from or head home for the day.
“The restructuring will work to expand Workday's global reach by investing in strategic locations.”
“Despite the current layoffs, Workday says it still expects to continue hiring in certain locations and positions over the next year.”
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