(Bloomberg) — The shares of Workday Inc. fell most in eight months after news that Amazon.com Inc. stopped using his staffing software.
Amazon ended a deal to roll out the software, Business Insider reported Tuesday, with the stock falling a whopping 7.8%, its most intraday since Nov. 20. Workday confirmed the news in a statement, saying the decision was made 18 months ago because of the ecommerce company’s “unique set of needs”.
“Our relationship with Amazon remains strong with the intact Amazon Web Services partnership 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 made up for their loss after Workday’s statement, falling 5.9% to $224.51 at 2:21 p.m. in New York. The stock had changed little this year through Monday’s close.
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