Software Giant SAP To Lay Off 3,000 Workers To Focus On "Core Business"

The restructuring is expected to lead to annual savings of 300-350 million euros from 2024, "which will help to fuel investments into strategic growth areas", SAP said

German software giant SAP on Thursday said it planned to cut some 3,000 jobs this year, joining a wave of layoffs in the global tech sector.

The Walldorf-based group, which offers both traditional software and cloud-based computing services, said it planned to carry out a "targeted restructuring programme" to "strengthen its core business" and improve efficiency.

"The programme is expected to affect approximately 2.5 percent of SAP's employees," it said in an earnings report unveiling full-year results for 2022.

SAP has a workforce of around 120,000 employees worldwide, meaning it plans to shed some 3,000 jobs.