Workday, a human resources software company, has announced the dismissal of 1,750 employees, accounting for 8.5% of the total workforce. This decision was made in order to reallocate resources to meet the evolving needs of customers.
Carl Eschenbach, CEO of Workday, stated that the company must undergo significant internal process changes to facilitate quicker decision-making. Job roles will become more defined, with a focus on increased investment in AI and platform development. The company will now measure return on investment (ROI) more rigorously and expand investments outside of the United States.
Employees who are being laid off will receive a compensation package of at least 12 weeks’ pay, with additional benefits based on tenure. Furthermore, Workday has announced the closure of some owned office spaces, opting for a model of office rental instead.
Source: Workday, The Register
TLDR: Workday announces layoffs and office closures to reallocate resources and streamline processes, with a focus on AI and international expansion. Employees will receive compensation packages and stock options.
Leave a Comment