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Workday to eliminate about 3% of global workforce in realignment
The Fly

Workday to eliminate about 3% of global workforce in realignment

In a regulatory filing earlier, Workday disclosed that on January 31 the company announced a realignment of resources resulting in the elimination of roles impacting approximately 3% of its global workforce. "These actions are part of Workday’s efforts to help position the company for continued growth. This includes continuing to invest in strategic areas of the business; aligning resources against business priorities; optimizing in certain areas for operational efficiency; and prioritizing to meet customer and market demands. Potential position eliminations in each country are subject to local law and consultation requirements," the filing stated. In a note to Workday’s employees from Workday’s Co-Chief Executive Officers, the company stated: "Earlier this month, we aligned as a company around a refreshed vision, strategy, and core set of values that we firmly believe will pave the way for our next phase of growth. While our confidence in the fundamentals of our business and future growth prospects remains strong, we continue to operate in a global economic environment that is challenging for companies of all sizes. As we navigate this uncertain environment, it’s important we help ensure Workday is set up for continued growth for many years to come. This includes continuing to invest in the strategic areas of our business so we can capitalize on the opportunity in front of us; aligning our resources against business priorities; optimizing in certain areas so we can operate more efficiently; and prioritizing to meet customer and market demands. As a result, we have decided to restructure and realign some teams across Workday, leading to the difficult decision to eliminate roles impacting approximately 3% of our global workforce, with the majority happening in our Product & Technology organization. We will be meeting with impacted employees, and all notifications are expected to be completed by the end of day, January 31, Pacific Time… It is always difficult to say goodbye to Workmates we have worked with side-by-side. As we’ve said from day one, we will always lean on our values to guide our decisions. While it may be difficult to see the connection between our values and today’s news, it’s important that we structure Workday in a way that helps us continue to grow and sustain our business. We realize that this news raises many questions, including what will happen in the future. These moves are not the result of over-hiring and in fact, we plan to increase the size of our global workforce in FY24. Based on what we know today, we have no plans to take similar actions of this size in the foreseeable future."

Published first on TheFly

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