IBL News | New York
Enterprise HR, finance, and learning platform Workday Workday joined Microsoft, Meta, Amazon, and other companies this week to announce layoffs.
The Silicon Valley-based company laid off 1,750 employees on Wednesday, 8.5% of its current workforce.
Workday CEO Carl Eschenbach told employees in a blog post that the company needs a new approach in the current market and does plan to hire AI talent.
“Affected employees in the U.S. will be offered a minimum of 12 weeks of pay, with additional weeks based on tenure. In addition, they will be offered additional vesting of restricted stock unit grants, career services, benefits support, and immigration support. Outside the U.S., affected employees will be offered packages based on local standards, which will be aligned with U.S. packages, where possible,” Eschenbach explained.
In the age of AI, other companies have recently announced layoffs.
• Identity management company Okta laid off 180 employees on Tuesday.
• Robotaxi company Cruise also slashed 50% of its workforce on Tuesday.
• Amazon has also recently cut some of its roles in its sustainability department.
