Aneel Bhusri and Carl Eisenbach, Co-CEOs of Workday, speaking on Squawk Box at the WEF in Davos, Switzerland on Jan. 17, 2023.
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.
In October 2022, the company reported head count of more than 17,500 employees, an increase of over 15% compared with January of that year.
The cuts are not the result of overhiring and the "majority" will occur in Workday's technology and product units, co-CEOs Aneel Bhusri and Carl Eschenbach wrote.
Severance packages for international employees would be "similar" to those offered to U.S. employees, Bhusri and Eschenbach wrote in the message.