Workday cuts 400 jobs amid software stock meltdown

Businessinsider reports Workday is cutting about 400 jobs, roughly 2% of its workforce, saying the reductions will primarily affect non-revenue-generating roles within its global customer-service team as the company realigns resources while continuing to hire in strategic areas and locations.

The company's securities filing did not cite artificial intelligence as a reason for the cuts, but recent AI developments have soured investor outlooks; Workday shares are down about 34% from a year ago. Several marquee tech stocks, including Workday, Intuit, and Salesforce, fell following the debut of Anthropic's industry-specific Claude Cowork plugin, and a spokesperson declined to comment beyond the filing.