This post is also available in:
简体中文 (Chinese)
German software company SAP SE has announced a €2 billion restructuring plan involving 8,000 positions to better focus on artificial intelligence (AI)-driven business growth. SAP plans to invest more than $1 billion in AI and explore new frontiers in AI-powered startups through its corporate investment firm, Sapphire Ventures.
The company said the restructuring plan will be implemented through voluntary furlough and internal retraining, and the headcount is expected to be similar to current levels by 2024. The restructuring charges will be mainly reflected in the first half of 2024.
In addition, SAP forecasts cloud revenue of 17 billion to 17.3 billion euros in 2024 and updates its outlook for 2025 to an adjusted cloud gross profit of around 16.2 billion euros. Its primary cloud business revenue at the end of 2023 was €13.66 billion.
(Source: inquirer Image source: freepik)
