Pleasanton-based tech giant Workday has announced plans to cut more than 1,000 jobs in order to focus on expanding opportunities in the artificial intelligence sector. The CEO, Carl Eschenbach, stated that approximately 1,750 positions, or 8.5% of the workforce, will be eliminated. The company believes that AI presents a massive opportunity for growth and will be hiring workers to focus on AI initiatives.
Eschenbach emphasized the need to align the workforce with the demands of customers in the rapidly changing landscape of work. The company will make strategic investments to drive innovation and make it easier for customers and partners to work with them. Workday previously cut 196 jobs in Pleasanton in 2023 and is now preparing for another round of layoffs.
Despite posting a profit of $1.62 billion in the last 12 months, Workday is moving forward with the job cuts. The company expects its financial results for the fiscal year 2025 to be in line with or above guidance, indicating a positive outlook despite the layoffs. Workday plans to exit certain office spaces, including the headquarters building it acquired in 2021.
Despite the cuts, Workday will continue to hire in key strategic areas and locations, maintaining efforts to drive growth and innovation in the AI sector. The current wave of layoffs is a response to the changing demands of the market and the company’s commitment to staying competitive in the technology industry.
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