BERLIN/STOCKHOLM, Jan 26 (Reuters) – SAP (SAPG.DE) said on Thursday it planned to cut 3,000 jobs, or 2.5% of its global workforce, and explore the sale of its remaining stake in Qualtrics, as the Germany software company looks to cut costs and focus on its cloud business.
SAP is the latest tech company to cut jobs after companies including Alphabet’s Google (GOOGL.O), Microsoft (MSFT.O) and Amazon (AMZN.O) announced thousands of layoffs to cut costs as they brace for tougher economic conditions.
“We expect only a moderate cost-saving impact for 2023, and a more pronounced one in 2024, about 300 million euros to 350 million in run rate savings as of 2024,” Chief Financial Officer Luka Mucic said in a call with journalists.
