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Workday Cancels Sales Meeting on Coronavirus Concern

Workday canceled a sales meeting due to concern about the coronavirus. The gathering for 3,000 people was scheduled for Orlando next month.
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Workday  (WDAY) - Get Free Report shares fell after the human-resources-software provider reportedly canceled the annual company sales meeting because of concern about the coronavirus.

The gathering, which was set to be attended by 3,000 people March 2 through 4 in Orlando, will be held online, according to CNBC.

“The well-being of our employees and communities is our top priority, and out of an abundance of caution we have decided to make our global sales kickoff a virtual experience to ensure we rally our team in the safest way possible,” Workday spokesman Jeff Shadid told CNBC in a statement.

Workday's move is one of a host of meeting cancellations stemming from the flu outbreak, amid fears it will turn into a pandemic.

The Mobile World Congress, the world's largest cellphone gathering, dropped its Barcelona meeting earlier this month. 

Facebook  (FB) - Get Free Report jettisoned its Global Marketing Summit for 4,000 people, which was scheduled for early March in San Francisco.

Facebook, along with Sony undefined, also decided against participating in San Francisco’s Game Developers Conference next month.

The coronavirus worldwide has killed at least 3,000 people and infected more than 80,000 since it was discovered Dec. 31 in China.

Workday shares peaked at $199.38 last Tuesday, after Leon Cooperman, founder of Omega Advisors, told CNBC he had bought a stake in the company at about $140 a share. 

At last check, Workday shares were down 3.8%. They finished the regular session Wednesday little changed at $175.36. In the past six trading sessions the stock is off 12%.

The company is scheduled to report earnings after the market close Thursday.