Workday has announced a major layoff of 1,750 employees, representing 8.5% of its workforce, with significant cuts occurring at its Pleasanton headquarters. CEO Carl Eschenbach described this as a 'pivotal moment' for the company, as the layoffs aim to redirect resources towards artificial intelligence initiatives. Despite the cuts, Eschenbach stated that hiring would continue in strategic areas. The financial impact of these layoffs is estimated to cost between $145 million to $175 million in severance-related expenses.
The mass layoff, a required filing under the Worker Adjustment and Retraining Notification Act, indicates Workday is cutting 1,750 roles, including 617 in the Bay Area.
Carl Eschenbach termed the layoff a pivotal moment for the company's future, emphasizing that cost-cutting would allow greater investment in AI initiatives.
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