The tech industry is facing significant layoffs, with Workday, a leading software company, announcing a reduction of 1,750 jobs, about 8.5% of its workforce. This decision is part of a restructuring effort aimed at prioritizing investments in artificial intelligence and enhancing collaborative efficiency within the company. According to CEO Carl Eschenbach, these cuts are necessary to meet the growing demand for innovative software solutions and allow for strategic growth in fiscal 2025. The layoffs come amid broader trends in the tech sector, where major companies have also been reducing staff.
Workday announced it would lay off 1,750 employees, representing roughly 8.5% of its workforce, as part of a broader restructuring plan to prioritize AI and innovation.
In a memo, CEO Carl Eschenbach stated the layoffs were necessary to realign resources due to rising demand for AI, and to better facilitate market innovation.
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