SAP plans $2.2-billion restructuring move that could hit about 8,000 employees
About 7.4% of staff at German tech giant’s facilities across the globe could be affected by the move
By News Desk
Published - Jan 25, 2024, 09:12 AM ET
Last Updated - Jan 25, 2024, 09:13 AM EST
German software giant SAP is planning to enforce a massive $2.2-billion restructuring plan that could affect about 8,000 employees across global operations. Estimates show about 7.4% of the company’s total workforce could be subjected to voluntary buyouts or forced role changes.
The company said in a statement that its headcount should remain the same by the end of 2024. SAP had about 108,000 full-time employees as of 2023 end, a CNBC report said.
CEO Christian Klein has been trying to refocus the company to a cloud-centric future, mirroring the changes in Adobe, Microsoft, and Oracle.
