Oh, dear readers, the tech world is a place of highs and lows, and it seems that Workday (WDAY) recently experienced a bit of a tumble. Yes, you heard it right, folks – Workday’s stock took a sharp nosedive when the news spread like wildfire that Amazon (AMZN) decided to part ways with the business software company’s human resources offering. Cue the dramatic music.
Now, hold your horses, don’t get too worried – there’s a bit of humor to this tale. According to Business Insider’s sources, Amazon felt that Workday’s software just wasn’t up to snuff to handle their expanding needs. Ah, even giants like Amazon can be picky!
So, what happened next? Well, the stock market drama unfolded before our very eyes. Workday’s stock plunged 7%, leaving it a bit dizzy at $223. Meanwhile, Amazon’s stock, not wanting to be left out of the fun, decided to drop 2%, currently trading at $3,614. Oh, the joys of the stock market rollercoaster!
But fear not, dear investors, the story doesn’t end there. In a twist of events, Workday offered an explanation on its blog – they claimed that the decision to part ways with Amazon’s Human Capital Management deployment was made more than a year ago. Gasp! Oh, what a surprise!
According to Workday, this parting of ways had nothing to do with their software’s scalability. They even boasted about supporting some of the world’s largest organizations – 45% of the Fortune 500 and a whopping 70% of the top 50 Fortune 500 companies. That’s quite an impressive resume, Workday!
To add a dash of irony, they emphasized that their relationship with Amazon is still going strong, with their Amazon Web Services partnership still intact. Not to mention, other Amazon subsidiaries like Audible, Twitch, and Whole Foods are still happily using their system. Phew!
So, there you have it, folks. The tale of Workday’s humorous hiatus with Amazon’s Human Capital Management. Despite the stock market jitters and sudden drops, it seems that both companies are moving forward with a smile. Let’s see what the future holds for these tech titans. Until then, happy investing! Wink.