A magnetic device may include a layer stack including a work function structure, a dielectric layer, and a ferromagnetic layer, where the ferromagnetic layer is positioned between the work function structure and the dielectric layer. The work function structure is configured to deplete electrons from the ferromagnetic layer or accumulate electrons in the ferromagnetic layer. A magnetization orientation of the ferromagnetic layer is configured to be switched by a voltage applied across the layer stack or by a voltage applied across or through the work function structure.