German software giant SAP announced layoffs of 3,000 people.

(Schematic, Bloomberg)

[Financial Channel/Comprehensive Report] In order to cut costs and focus on the business cloud business, the German enterprise management software company "SAP (Sap)" announced on Thursday (26th) that it will lay off 3,000 employees this year, about 300% of its global employees. 2.5%.

"Reuters" reported that SAP's chief financial officer said that the layoff process will take some time, and that only modest cost savings are expected in 2023, and the effect will be more pronounced in 2024.

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In addition to announcing layoffs, SAP also said that the company is discussing the sale of the remaining shares of Qualtrics, a survey software seller, saying that the sale of Qualtrics shares will bring considerable one-time benefits to the company and significantly improve SAP's profit performance.

According to data, Qualtrics currently has a market value of approximately US$7 billion (approximately NT$212 billion), and SAP owns 71% of the company's shares.

As of 5:05 pm on the 26th Taipei time, SAP’s share price was temporarily reported at 102.96 euros, a drop of 2.81%.

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