(Bloomberg) — Workday Inc. shares fell the most in eight months on news that Amazon.com Inc. stopped using its human resources software.
Amazon ended a deal to roll out the software, Business Insider reported Tuesday, sending shares down as much as 7.8%, the most intraday since Nov. 20. Workday confirmed the news in a statement, saying the decision was made 18 months ago because of the e-commerce company’s “unique set of needs.”
“Our relationship with Amazon remains strong with the Amazon Web Services partnership intact and other Amazon subsidiaries — such as Audible, Twitch, and Whole Foods — successfully using our system,” the Pleasanton, California-based software maker said in the statement.
The shares pared their loss after Workday’s statement, declining 5.9% to $224.51 at 2:21 p.m. in New York. The stock was little changed this year through Monday’s close.
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