wday-202508210001327811FALSE00013278112025-08-212025-08-21
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): August 21, 2025
WORKDAY, INC.
(Exact name of registrant as specified in its charter)
| | | | | | | | |
| Delaware | 001-35680 | 20-2480422 |
(State or other jurisdiction
of incorporation) | (Commission
File Number) | (I.R.S. Employer
Identification No.) |
6110 Stoneridge Mall Road
Pleasanton, California 94588
(Address of principal executive offices)
Registrant’s telephone number, including area code: (925) 951-9000
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| | | | | |
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| | | | | | | | |
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Class A Common Stock, par value $0.001 | WDAY | The Nasdaq Stock Market LLC |
| | (Nasdaq Global Select Market) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Section 8 – Other Events
Item 8.01 – Other Events
On August 21, 2025, Workday, Inc. (“Workday”) entered into a definitive agreement (the “Agreement”) by and among Workday, Paradox, Inc. (“Paradox”), and certain other parties thereto. Pursuant to the Agreement, Workday will, subject to the satisfaction of certain conditions and receipt of required regulatory approvals, acquire all of the outstanding capital stock of Paradox. A copy of the press release announcing the entering into of the Agreement is attached hereto as Exhibit 99.1.
Forward-Looking Statements
This report contains forward-looking statements related to Workday, Paradox, and the acquisition of Paradox by Workday. These forward-looking statements are based only on currently available information and Workday’s current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Forward looking statements in this communication include, among other things, statements about the potential benefits and effects of the proposed transaction; Workday’s plans, objectives, expectations, and intentions with respect to Paradox’s business; and the anticipated timing of closing of the proposed transaction. Risks include, but are not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all; (ii) failure to achieve the expected benefits of the transaction; (iii) Workday’s ability to implement its plans, objectives, and other expectations with respect to Paradox’s business and its ability to deliver an AI-powered talent acquisition suite to help customers more efficiently find, hire, and onboard workers and transform their hiring processes; (iv) negative effects of the announcement or the consummation of the transaction on Workday’s business operations, operating results, or share price; (v) unanticipated expenses related to the acquisition; and (vi) other risks and factors described in our filings with the Securities and Exchange Commission (“SEC”), including our most recent report on Form 10-Q or Form 10-K and other reports that we have filed and will file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this report.
Section 9 – Financial Statements and Exhibits
Item 9.01 – Financial Statements and Exhibits
(d) Exhibits
| | | | | | | | |
| Exhibit Number | | Description |
| 99.1 | | |
| 104 | | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) |
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: August 21, 2025 | | | | | |
| | Workday, Inc. |
| | /s/ Richard H. Sauer |
| | Richard H. Sauer
Chief Legal Officer, Head of Corporate Affairs, and Corporate Secretary |
Exhibit 99.1
Workday Signs Definitive Agreement to Acquire Paradox, the AI Company Redefining the Frontline Candidate Experience
Paradox’s Candidate Experience Agent Delivers Superior Candidate Care, Accelerated Candidate Conversion and Time-to-Hire
The Addition of Paradox Will Give Workday an AI-Powered Talent Acquisition Suite for Every Worker and Every Type of Work
PLEASANTON, Calif., August 21, 2025 – Workday, Inc. (NASDAQ: WDAY), the AI platform for managing people, money, and agents, has entered into a definitive agreement to acquire Paradox, a candidate experience agent that uses conversational AI to simplify every step of the job application journey – particularly for high-volume frontline industries, which employ nearly 3 billion workers globally. The addition of Paradox will give Workday an AI-powered talent acquisition suite to help customers more efficiently find, hire, and onboard every type of worker – from the frontline to the back office – for every type of work, from full-time, to contingent.
“Hiring is one of the most critical moments in the employee experience, yet too often it’s slowed down by outdated processes and disconnected tools,” said Gerrit Kazmaier, president, Product & Technology, Workday. “By bringing Paradox’s candidate experience AI agent into Workday, we’re giving organizations a smarter, faster, and more engaging way to connect with candidates. Together, we’ll help our customers move from transactional recruiting to transformative hiring that helps deliver talent, in less time, and with a better experience for everyone.”
“From day one, our mission has been to help our customers’ recruiting and hiring teams spend more time with people and less time with software,” said Adam Godson, CEO, Paradox. “Workday’s global reach and comprehensive platform provide the perfect runway for us to accelerate our mission, bringing our proven conversational AI to a much bigger audience and helping more companies around the world transform their hiring processes.”
Redefining The Candidate Experience with AI
Paradox delivers exceptional candidate experiences at scale, giving every applicant a personalized, high-touch interaction powered by AI. Paradox’s candidate experience agent gives candidates instant responses, self-scheduling capabilities, and 24/7 support in a natural conversational experience. Additionally, by turning slow, burdensome recruiting processes into quick, seamless conversations, Paradox helps companies fill high-volume roles with candidates faster, to drive measurable business results.
Paradox has powered more than 189 million AI-assisted candidate conversations. Their unique expertise in candidate experience and hiring processes has improved candidate response times resulting in employee conversion rates over 70%, helping organizations fill roles faster and reducing time-to-hire to as low as three and a half days.
Workday: A Talent Acquisition Suite for Every Type of Worker
The addition of Paradox will give Workday an AI-powered talent acquisition suite to help customers more efficiently find, hire, and onboard every type of worker – from the frontline to the back office – across full-time and contingent roles. From AI-driven talent discovery and matching with HiredScore, to AI-powered candidate conversations with Paradox, to streamlined hiring and onboarding in Workday Recruiting, Workday is uniquely positioned to help organizations attract, engage, and retain top talent in one unified, intelligent platform. By unifying all of these capabilities with Workday Recruiting, companies can reduce time-to-hire, improve conversion rates, and deliver an end-to-end talent journey that sets them apart in a competitive market.
“Workday’s acquisition of Paradox is a highly strategic move,” said Josh Bersin, global industry analyst and CEO, The Josh Bersin Company. “This establishes Workday as a leader in high-volume, front-line hiring, which covers 70% of the jobs in the world, and also brings a pioneering AI product team into the company. Workday customers should be excited about the potential.”
“Our partnership with Paradox has already delivered significant improvements, reducing our time-to-hire by 75%, from 12 days to 4, and doubling applicant flow,” said Ilene Eskenazi, chief human resources officer, Chipotle. “We look forward to Paradox becoming a part of Workday and anticipate even greater support and resources as we continue to enhance the employee experience for our restaurant managers and free up their time to focus on delivering delicious culinary and exceptional hospitality to our guests.”
Details Regarding Proposed Acquisition of Paradox
The transaction is expected to close in the third quarter of Workday’s fiscal year 2026, ending October 31, 2025, subject to the satisfaction of closing conditions, including required regulatory approvals. Morgan Stanley & Co. LLC is serving as financial advisor to Workday and Orrick is serving as its legal advisor. Qatalyst Partners is serving as financial advisor to Paradox and DLA Piper is serving as its legal advisor.
About Workday
Workday is the AI platform for managing people, money, and agents. The Workday platform is built with AI at the core to help customers elevate people, supercharge work, and move their business forever forward. Workday is used by more than 11,000 organizations around the world and across industries – from medium-sized businesses to more than 65% of the Fortune 500. For more information about Workday, visit workday.com.
© 2025 Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders.
About Paradox
Launched in 2016, Paradox built the first conversational recruiting platform – driven by its AI assistant Olivia – to help recruiting and hiring teams spend more time with people and less time with software. Serving global clients with hiring needs across frontline high-volume hourly and high-skilled professional roles, Paradox's AI assistant does the work talent teams don't have time for – streamlining tasks like screening for minimum qualifications, instantly scheduling interviews, answering common candidate questions, and more through simple, frictionless mobile-, chat-, and SMS-driven experiences. The company has been ranked one of the fastest growing companies in HR Tech by the Deloitte Fast 500, and has made the Inc. 5000 list five consecutive years. To learn more about Paradox’s product, visit www.Paradox.ai.
Forward-Looking Statements
This press release contains forward-looking statements related to Workday, Paradox, and the acquisition of Paradox by Workday. These forward-looking statements are based only on currently available information and Workday’s current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Forward looking statements in this communication include, among other things, statements about the potential benefits and effects of the proposed transaction; Workday’s plans, objectives, expectations, and intentions with respect to Paradox’s business; and the anticipated timing of closing of the proposed transaction. Risks include, but are not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all; (ii) failure to achieve the expected benefits of the transaction; (iii) Workday’s ability to implement its plans, objectives, and other expectations with respect to Paradox’s business and its ability to deliver an AI-powered talent acquisition suite to help customers more efficiently find, hire, and onboard workers and transform their hiring processes; (iv) negative effects of the announcement or the consummation of the transaction on Workday’s business operations, operating results, or share price; (v) unanticipated expenses related to the acquisition; and (vi) other risks and factors described in our filings with the Securities and Exchange Commission (“SEC”), including our most recent report on Form 10-Q or Form 10-K and other reports that we have filed and will file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.
© 2025 Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders.
SOURCE Workday, Inc.