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| Name | Symbol | Market | Type |
|---|---|---|---|
| SAP SE | NYSE:SAP | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 3.14 | 1.74% | 183.78 | 184.26 | 182.83 | 183.70 | 293,892 | 20:45:17 |
From Nov 2023 to May 2024
By Dean Seal
SAP will undertake a multi-billion euro restructuring this year that will affect 8,000 jobs as it ratchets up its focus on business-related artificial intelligence.
The German business-software company said on Tuesday that the majority of the 8,000 positions affected by the restructuring are expected to be covered by voluntary leave programs and internal re-skilling measures.
SAP is expecting to exit 2024 with a headcount that is similar to current levels as it invests in strategic growth areas. The company had a workforce of 107,602 at the end of 2023.
Most of the costs related to the restructuring, currently projected to be about EUR2 billion (U.S. $2.17 billion), will be recognized in the first half of the year. Outside of the restructuring expenses, the overhaul is expected to convey a minor cost benefit in 2024.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
January 23, 2024 18:17 ET (23:17 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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