"SAP's AI-Driven Restructuring: 8,000 Jobs Impacted"
TL;DR Summary
German software firm SAP SE announced a 2 billion euro restructuring plan affecting 8,000 roles as it shifts focus towards AI-driven business areas, with plans to invest over $1 billion in AI-powered technology startups. The company aims to exit 2024 with a headcount similar to current levels and expects the restructuring expenses to impact operating profit in the first half of 2024. Additionally, SAP forecasted 2024 cloud revenue at 17 billion euros to 17.3 billion euros and updated its 2025 outlook for adjusted cloud gross profit.
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- SAP Launches EUR2 Billion Restructuring Affecting 8000 Jobs Amid AI Push The Wall Street Journal
- SAP Unveils Restructuring Plan Affecting 8,000 Jobs Yahoo Finance
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