Workday lays off 1,750 employees, or about 8.5% of its workforce

Workday is cutting about 1,750 jobs, or 8.5% of its workforce. In a Wednesday memo to employees, published in a securities filing, Workday CEO Carl Eschenbach said the layoffs were necessary for ongoing growth efforts at the company — including a particular focus on artificial intelligence investments. “As we start our new fiscal year, we’re at a pivotal moment,” Eschenbach wrote.