Workday, the human resources software giant, announced layoffs affecting approximately 1,100 employees, or 10% of its workforce. CEO Carl Eschenbach cited the need to restructure and prioritize investments in artificial intelligence (AI) as the driving forces behind the decision.
Workday , the popular human resources software company, has announced significant layoffs affecting approximately 1,100 employees, or roughly 10% of its workforce. The company cited the need to restructure and focus on artificial intelligence (AI) investments as the primary reasons for the job cuts . In a memo to employees, Workday CEO Carl Eschenbach acknowledged the difficulty of the situation but emphasized the company's commitment to growth and innovation in the evolving landscape of work.
He stated that the layoffs are necessary to position Workday for success in a market increasingly driven by AI. Workday plans to notify the majority of affected employees on Wednesday. The company expects to incur between $230 million and $270 million in charges related to the restructuring, primarily covering severance pay, employee benefits, and other associated costs. Laid-off US employees will receive at least 12 weeks of pay, with additional weeks based on their tenure. Employees in other countries will receive packages aligned with local standards. Workday intends to exit certain office spaces but hasn't revealed a specific timeline or which locations will be impacted. However, Eschenbach's memo indicates that the restructuring aims to expand Workday's global reach by investing in strategic locations. Despite the layoffs, Workday still anticipates hiring in specific locations and roles over the next year. Workday's decision to lay off employees follows a trend observed in the tech industry over the past year, with many companies restructuring to navigate a changing economic environment and prioritize AI investments. The company plans to release its full fiscal year 2025 earnings later this month
Workday Layoffs Artificial Intelligence AI Restructuring Technology Job Cuts Software
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Washington Post Lays Off 100 Employees Amidst Financial StrugglesThe Washington Post announced layoffs affecting 100 employees in its business division, reflecting the newspaper's ongoing financial difficulties. The cuts follow subscriber cancellations and staff dissatisfaction related to owner Jeff Bezos' decision to block an endorsement of Vice President Kamala Harris.
Read more »
Large Publisher Lays Off More Than 100 Employees After Striking Deal With OpenAIScience and Technology News and Videos
Read more »
Bad Bunny Becomes the First Latin Artist to Tally 100 Career Hot 100 HitsBad Bunny has become the first Latin artist with 100-plus career Hot 100 hits. Get the details.
Read more »
Two TV Shows Kick Off New Seasons with 100% Rotten Tomatoes ScoresHarley Quinn (Max) and Rogue Heroes (MGM+) both debuted their new seasons with perfect 100% critic scores on Rotten Tomatoes. Harley Quinn, in its fifth season, continues its signature blend of chaotic charm and humor, while Rogue Heroes, a World War II drama, returns for its sophomore season with a new chapter of SAS history.
Read more »
Trump to Address GOP Conference as His Administration Kicks Off Busy 100-Day SprintPresident Trump's first week in office was marked by a flurry of activity, and his schedule remains packed. Here's a look at what's coming up for the administration this week, including a key meeting with House Republicans, a Senate hearing on the Panama Canal, and ongoing immigration enforcement.
Read more »
Endeavor Health to lay off approximately 100 people at suburban Chicago hospitalEndeavor Health will lay off roughly 100 people and 'discontinue inpatient psychiatric services' at Northwest Community Hospital in Arlington Heights.
Read more »