Search
On February 5, Workday, a leading US-based provider of cloud-based financial management and human capital management software, announced that due to heightened industry competition and an unpredictable spending landscape, the company will undertake a workforce reduction. Approximately 1,750 employees, equating to 8.5% of the total workforce, will be impacted by this decision. This layoff forms part of Workday's broader cost-reduction strategy, with associated costs anticipated to fall between $230 million and $270 million. Of this amount, $60 million to $70 million will be recognized in the fourth quarter.
Despite these layoffs, Workday emphasized its commitment to ongoing hiring in critical strategic areas and regions, underscoring its focus on strategic growth amidst the current challenges.
-
C114 Communication Network -
Communication Home
