Dow Jones Newswires: SAP Q4 revenue hits $9.22 billion but job losses loom

0
3

SAP SE XE:SAP 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.

The Walldorf, Germany-based company said Thursday that it would book most of 250 million euros to 300 million euros ($272.9 million – $327.4 million) in restructuring costs in the current quarter. The move is expected to generate EUR300 million to EUR350 million in annual cost savings…

Market Watch

Read More