""We are pleased with our dialogue with the team and believe the plan announced at [this week's event] represents a significant enhancement of Workday's operating model and capital allocation framework. We believe this multi-year plan will drive substantial long-term value creation for Workday shareholders, and we look forward to continued collaboration with the company.""
"In February, Workday said it was cutting 8.5 percent of its personnel under a restructuring scheme. It said the application of AI internally would "result in the elimination of approximately 1,750 positions," but that the company would also hire in "key strategic areas and locations." In June, the financial management and HR SaaS company promised to rehire the roles, albeit on no particular timetable."
""Our intention is to invest back in the business and ultimately have the same amount of people working," he said at the time. "It is about being thoughtful with growth and how we think about where those hires would come from, and where they would ultimately go within the organization.""
Workday received a $2 billion investment from Elliott Investment Management as it completed a $1.1 billion acquisition of Swedish AI company Sana Labs and set out workforce and operating-model plans. Elliott expressed approval of the multi-year plan presented at Financial Analyst Day and indicated intent to collaborate. Workday cut 8.5 percent of staff, citing internal AI that would "result in the elimination of approximately 1,750 positions," while noting plans to hire in "key strategic areas and locations." The company signaled an intention to rehire roughly the same number of roles, and CFO Zane Rowe said the business intends to reinvest and ultimately restore headcount while being thoughtful about growth, timing, and locations of future hires. Senior executive additions include CTO Peter Bailis and chief commercial officer Rob Enslin.
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