(Reuters) -Payroll processing company Workday said on Wednesday it will cut around 1,750 jobs, or 8.5% of its current workforce, as it grapples with competition and an uncertain spending environment.
It expects to incur around $230 million to $270 million in charges connected to the cost reduction plan, of which, around $60 million to $70 million is expected to be recognized in the fourth quarter.
The company also said it expects its fiscal fourth quarter and full-year financial results to be in-line with or above its prior forecast.
The charges and actions associated with the cost reduction plans is expected to be completed by the second quarter of fiscal 2026.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Savio D’Souza and Leroy Leo)
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