Workday, the payroll and HR software company, announced layoffs affecting 1,750 employees, or 8.5% of its workforce, as it prioritizes investments in artificial intelligence. CEO Carl Eschenbach framed the cuts as part of a restructuring plan, emphasizing the transformative potential of AI. This marks the second round of job reductions for Workday in a year. The company is also hiring in other 'strategic' areas.
Workday , the payroll and HR company based in Pleasanton, announced on Wednesday that it is cutting 8.5 percent of its workforce as it invests more in AI. The company said in a release that the cuts will comprise about 1,750 jobs, while also continuing to hire in other "strategic" areas.
CEO Carl Eschenbach said the changes are part of a restructuring plan.He began an open letter calling his employees "workmates," and said the company is at a "pivotal moment," where "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." This is the second round of cuts for Workday in a year. It cut 3 percent of its workforce last February.Workday is a global company and it's unclear how many cuts will occur in the Bay Area. Also, this week, Salesforce, based in San Francisco, announced it would be slashing 1,000 jobs, while hiring for artificial intelligence roles. The company has not disclosed which divisions will be affected by the job cuts.In addition, Walmart – the nation's largest private employer – is eliminating hundreds of roles and closing one of its North Carolina offices as it continues to pull workers back to its main hubs in California and Arkansas, according to an internal memo seen by FOX Business on Tuesday.Walmart Chief People Officer Donna Morris said in the memo sent to employees that the company is cutting roles and asking office-based employees in Hoboken and some of its smaller offices to relocate to the company’s newly opened headquarters in Bentonville, Arkansas, as well as its office in Sunnyvale, California.
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