Workday cuts about 525 jobs but says it’s not the result of overhiring Workday, a cloud-only business planning software company, will lay off 3% of its employees, the company’s co-CEOs wrote in a message to employees Tuesday. The cuts are not the result of overhiring and the “majority” will occur in Workday’s technology and product units. Employees who lost their jobs will receive three months of severance pay and an additional two weeks of pay for each year of employment. Stock vesting will continue through April 2023, and like many other tech companies that laid off workers, Workday executives said, the company will offer immigration support and optional medical benefits for six months.
Workday, a cloud-only business planning software company, will lay off 3% of its employees, the company’s co-CEOs wrote in a message to employees Tuesday.
The cuts are not the result of overhiring and the “majority” will occur in Workday’s technology and product units.
Employees who lost their jobs will receive three months of severance pay and an additional two weeks of pay for each year of employment. Stock vesting will continue through April 2023, and like many other tech companies that laid off workers, Workday executives said, the company will offer immigration support and optional medical benefits for six months.