Workday to Lay Off Around 1,750 Employees to Focus on Growth in AI and Platform Development
In a recent development, Workday, a leading provider of human capital management software, has announced plans to lay off around 1,750 employees as part of its efforts to focus on growth in artificial intelligence (AI) and platform development. The layoffs, which are expected to affect approximately 4% of the company’s global workforce, are intended to enable the company to prioritize investments in AI and platform development, which are critical to its ongoing growth and success.
According to a statement issued by Workday CEO Carl Eschenbach, the layoffs are necessary to ensure the company’s continued growth and success. “We’re making these changes to ensure we’re positioned for ongoing growth and success, including our focus on artificial intelligence investments,” Eschenbach said. “While it’s never easy to let go of talented colleagues, we’re committed to supporting those impacted and continuing to prioritize innovation and strategic hiring to drive growth in key areas.”
Workday’s decision to lay off employees comes as the company continues to invest heavily in AI and machine learning technologies, which are expected to play a critical role in the future of human capital management. By prioritizing these investments, Workday aims to stay ahead of the curve and provide its customers with the most advanced and effective solutions for managing their workforce.
The layoffs are expected to affect employees across the company, although it’s unclear which specific departments or roles will be impacted. Workday has not provided a detailed breakdown of the layoffs, but it’s likely that the company will be focusing on reducing its workforce in areas where there is redundant or overlapping talent.
Despite the layoffs, Workday remains committed to strategic hiring and innovation investments in areas that have the potential for significant growth. The company has made it clear that it will continue to prioritize hiring in areas such as AI, machine learning, and platform development, as well as in emerging markets and industries.
Workday’s decision to lay off employees is likely to be a difficult pill for many to swallow, particularly for those who will be directly impacted by the layoffs. However, the company’s decision to prioritize investments in AI and platform development is likely to have a positive impact on its long-term growth and success.
As the company continues to evolve and adapt to changing market conditions, it’s likely that Workday will need to make further adjustments to its workforce and operations. However, the company’s commitment to innovation and strategic hiring suggests that it will continue to be a major player in the human capital management space for years to come.
