Workday to cut 1,750 jobs as it shifts focus to artificial intelligence

livemint.com February 5, 2025, 04:01 PM UTC

Workday will lay off about 1,750 employees, or 8.5% of its workforce, to focus on artificial intelligence and adapt to economic conditions. The company expects to incur $230-$270 million in charges from this decision. The layoffs come as Workday faces pressure from reduced spending by enterprise clients due to high interest rates. The company plans to close some office spaces as part of its cost-cutting measures. Despite the layoffs, Workday's shares rose over 4% in premarket trading. The company anticipates its fourth-quarter and full-year financial results will meet or exceed previous forecasts.


With a significance score of 3, this news ranks in the top 19% of today's 16436 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 8000 minimalists.