Workday Announces Layoffs Affecting Two Percent Workforce

Workday announced on Wednesday it will lay off about 400 employees, roughly 2% of its workforce, primarily non-revenue customer-service roles, according to a securities filing. The company said it will continue hiring in strategic areas even as shares have fallen about 34% year-over-year amid investor concern after recent AI developments; it also faces a class-action lawsuit alleging AI hiring bias.