Workday, the HR and finance management company, is the latest tech giant to lay off a mass of employees in the name of AI. In a Wednesday announcement titled "Changes to Position Workday for the Future,

CEO Carl Eschenbach said the Bay Area-based software firm will be “prioritizing innovation investments like AI and platform development.”

Workday CEO Carl Eschenbach said the layoffs were necessary for ongoing growth efforts at the company – including a particular focus on artificial intelligence investments.

Workday (WDAY) announced in a regulatory filing Wednesday that it plans to lay off approximately 1,750 employees, or 8.5% of its workforce, as part of a restructuring plan. The enterprise software company said the plan is intended to "continue advancing Workday’s ongoing focus on durable growth.

Enterprise resource planning software company Workday Inc. announced today that it will cut around 8.5%, or 1,760 jobs, from its workforce as part of a push for growth and increasing investments in artificial intelligence.

Workday, the Bay Area payroll and human resources tech giant, announced on Wednesday that it would cut 1,750 jobs, or 8.5% of its workforce. CEO Carl Eschenbach explained that the cuts were part of a restructuring effort to position the Pleasanton company to embrace artificial intelligence.