SAP to cut 3,000 jobs, explore Qualtrics stake sale

"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.The layoffs come after SAP reported a 30% revenue increase in its cloud business in the fourth quarter, helped by strong demand for its software.. It bought the company for $8 billion in 2018 and took it public in 2021 at a valuation of nearly $21 billion.

" would result in a quite significant one-time gain," Mucic said. "This would materially increase the profit performance of SAP, but it's currently not reflected in the outlook."

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SAP Q4 revenue hits $9.22 billion but job losses loomGerman software company said it would book most of 250 million euros to 300m euros ($272.9 million - $327.4 million) in restructuring costs in current quarter.
Source: MarketWatch - 🏆 3. / 97 Read more »

SAP to Cut 3,000 Jobs After Profit PlungesThe German software company joined the ranks of tech companies announcing job cuts this year, following a 47% fall in net profit in the final quarter of 2022.
Source: WSJ - 🏆 98. / 63 Read more »

Weekends Only furniture stores going out of business, liquidation to begin ThursdayThe furniture retailer has two stores in the Indianapolis area, one in Castleton and one in Greenwood.
Source: indystar - 🏆 434. / 53 Read more »