SAP SE SAP, -0.64% is embarking on a restructuring program that will affect some 2,800 employees as the German business software company seeks to strengthen its core cloud business at a time when customers are being more cautious with their spending.
SAP employed nearly 112,000 people at the end of December and the program should affect around 2.5% of its workforce. Analysts polled by FactSet had forecast overall revenue of EUR8.51 billion, and cloud revenue of EUR3.44 billion.
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