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

livemint.com —

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 12888 analyzed articles.

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Timeline:

    [2.7]
    Workday cuts 1,750 jobs to focus on artificial intelligence growth (abc7chicago.com)
    46d 3h
    Source
    [2.8]
    Workday cuts 1,750 jobs to focus on growth and AI investments (apnews.com)
    46d 5h
    Source
    [2.0]
    Workday announces global job cuts raising concerns for Irish operation (rte.ie)
    46d 6h
    Source
    [3.0]
    Workday lays off 1,750 employees as part of workforce restructuring (techcrunch.com)
    46d 7h
    Source
    [2.4]
    Workday lays off 1,750 employees to focus on growth and AI investments (hindustantimes.com)
    46d 7h
    Source
    [2.4]
    Workday reports strong Q4 results while announcing job cuts and restructuring plans (news.yahoo.com)
    46d 7h
    Source
    [2.4]
    Workday announces layoffs of 1,750 employees to focus on growth and AI investments (abcnews.go.com)
    46d 8h
    Source
    [1.9]
    Workday plans to lay off 1,750 employees as part of workforce reduction (sg.news.yahoo.com)
    46d 14h
    Source