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SAP CEO Christian Klein speaks at a panel session on the third day of the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 19, 2023.
Stefan Wermuth | Bloomberg | getty images
SAP It aimed to make voluntary buyouts or job changes for 8,000 employees as part of a restructuring program to 2024, it said in a statement on Tuesday. But the German business software maker said its headcount should remain the same. SAP shares were up about 1% in extended trading.
The company is trying to reposition itself for rapid revenue growth, which also involves artificial intelligence to some extent. Total revenue in the fourth quarter increased 5% year over year.
SAP said it now expects adjusted operating profit of 10 billion euros ($10.85 billion) in 2025. This is 2 billion euros lower than its previous outlook due to share-based compensation, but 500 million euros higher due to planned efficiencies from the restructuring.
The company had approximately 112,000 full-time employees when it published its 2022 annual report. A year ago the company had said it would get rid of 3,000 roles.
In 2023, the value of SAP stock rose nearly 50%, its best performance since 2012, while the Nasdaq Composite Index rose 43%.
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