Workday provides enterprise cloud software for finance and human resources used by medium to large organizations. Its suite includes Workday HCM, Financial Management, Adaptive Planning, and Workday Student, all delivered on a subscription basis. The platform combines HR and financial processes with analytics and planning, and receives regular cloud updates; consulting and training services help with implementation. Workday differentiates itself with a unified cloud-based suite for HR and finance and tools like Workday Peakon Employee Voice to support employee engagement, aiming to help organizations run their workforce and finances more efficiently.
Company Size
10,001+
Company Stage
IPO
Headquarters
Pleasanton, California
Founded
2005
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Workday has expanded its revolving credit facility from $1.0 billion to $1.5 billion under a new multi-bank agreement led by Wells Fargo. The facility, which entered into effect on 1 October 2026, replaces the company's previous credit agreement from April 2022. The new credit agreement runs until October 2031, with options for limited one-year extensions. It supports multi-currency borrowing in US dollars and approved foreign currencies, with no revolving loans outstanding as of the closing date. The facility features a maximum leverage ratio of 3.50 to 1.00, with flexibility up to 4.50 to 1.00 following certain qualified acquisitions. Interest and fee structures are tied to either Workday's consolidated leverage ratio or its senior unsecured debt ratings.
Workday has launched operations in the United Arab Emirates with a new Dubai office and expanded local leadership. The enterprise AI platform for HR, finance, and IT aims to support organisations as they modernise operations in line with national transformation goals. The company released research showing 90% of UAE employees now use AI at least weekly, saving an average of 3.6 hours per week. However, employees also spend 3.4 hours weekly correcting low-quality AI outputs, highlighting the need for human oversight. UAE organisations are reinvesting AI-driven efficiencies in their workforce rather than pursuing cost reduction. A third are using savings to handle greater workloads, whilst 32% are directing resources toward training and upskilling. Only 24% are primarily using AI savings for cost reduction. The UAE launch reflects Workday's Middle East growth strategy as cloud adoption accelerates across public and private sectors.
Workday is conducting its second round of layoffs this year, cutting approximately 500 workers, or 2.5% of its workforce. The cuts primarily affect the product and technology team, aimed at aligning structures with strategic growth priorities. The company, which employed over 21,000 people at end-January, also trimmed its fiscal third-quarter earnings forecast. Restructuring charges will reduce operating margins for the third quarter and full year. Workday previously laid off about 400 employees in February. Shortly after, then-CEO Carl Eschenbach departed and was succeeded by co-founder Aneel Bhusri. The company plans to continue hiring in strategic areas and locations throughout fiscal 2027. Workday shares are down approximately 12% year to date.
Teem Finance has partnered with Workday to integrate its AI-powered supplier intelligence platform with Workday Strategic Sourcing and Contract Lifecycle Management. The partnership enables Workday customers to automate supplier research and identify redundant purchases before they occur. Teem's platform consolidates contracts and market research to provide procurement teams with actionable recommendations. It also converts plain-language requests into structured supplier recommendations by analysing existing contracts and comparing market alternatives. According to the company, customers have reduced redundant software spend by 20% to 35% and halved sourcing cycle times. The integration allows supplier and contract data to flow directly from Workday into Teem without manual data entry. Teem will present at Workday Rising in Las Vegas from 12-15 October.
Checkr has partnered with Workday to automate income and employment verification for US employers. The integration allows participating employers to share verified employment and income data through Checkr's platform, enabling employees to instantly verify their information when applying for jobs, loans, flats, or government benefits. The partnership addresses verification requirements in high-stakes processes like mortgage lending, where lenders must confirm employment within 10 business days of the note date under Fannie Mae rules. By connecting Checkr with Workday, the integration reduces manual verification requests for HR teams whilst providing faster access to required data. Workday customers can access the verification service through the Workday Total Benefits solution launching in late October. Checkr serves over 140,000 customers globally across employment, insurance, mortgage, and tenant verifications.