SAP plans to cut 3,000 jobs following steep profit decline in 2022, WSJ reports

SAP plans to cut up to 3,000 jobs, or about 2.5% of its global workforce, with finance chief Luka Mucic telling reporters on Thursday that the cuts will include layoffs and be spread across the company’s geographic footprint, with most of them happening outside the company’s home base in Germany, The Wall Street Journal’s William Boston reports. "The purpose is to further focus on strategic growth areas," Mucic said. SAP expects to book restructuring costs of EUR 250M-EUR 300M in Q1 and to see annual savings of up to EUR 350M in 2024. Reference Link