Form 8-K · Current report
Workday, Inc. 8-K, filed Sep 29, 2026
- Filed
- CIK
- 0001327811
- Accession no.
- 0001327811-26-000048
Summary
Workday announced reorganizations on September 29, 2026 that reduce its workforce by about 2.5%, primarily in its Product and Technology team, along with select leased office space reductions, expecting $65–80 million in related charges. Workday reiterated its fiscal 2027 third-quarter and full-year guidance except for GAAP operating margin, which it now expects to be roughly 20–21 percentage points below third-quarter non-GAAP operating margin and about 19 percentage points below full-year non-GAAP operating margin.
Key points
- Workday plans to continue hiring in key strategic areas and locations through fiscal 2027.
- Employee-related actions are expected to be substantially completed by the first quarter of fiscal 2028, and leased office space actions by the fourth quarter of fiscal 2027.
- Estimated charges comprise $40–55 million of cash severance and related costs, about $10 million of non-cash stock-based compensation, and about $15 million of non-cash leased office space impairment.
- Workday estimates $55–70 million of the charges in the third quarter of fiscal 2027 and $10 million in the fourth quarter.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 2.02Results of Operations and Financial Condition
- 2.05Costs Associated with Exit or Disposal Activities
From the filing
Item 2.02 - Results of Operations and Financial Condition Workday, Inc. (“Workday”) is reiterating its fiscal 2027 third quarter and full-year financial guidance provided on its fiscal 2027 second quarter earnings call on August 27, 2026, with the exception of GAAP operating margin. Due to the activities discussed in Item 2.05 below, Workday now expects its fiscal 2027 third quarter GAAP operating margin to be approximately 20 to 21 percentage points lower than its third quarter non-GAAP operating margin and its fiscal 2027 full-year GAAP operating margin to be approximately 19 percentage points lower than its full-year non-GAAP operating margin. …
An excerpt of the text as filed with the SEC, cut for length.
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