SAP announces 3,000 job cuts

Kathmandu. German tech company SAP (SAP) is going to cut 3000 employees this year. This number is 2.5 per cent of their total employees.
Earlier, tech companies like Google, Microsoft and Amazon have also decided to cut employees.

SAP has about 12 thousand employees from all over the world. About 3,000 of them will lose their jobs. More than 200 employees will be retrenched at the headquarters.
According to news agency Reuters, this company wants to reduce its cost in 2023.

The job cuts in the first quarter of 2023 will result in a loss of 250 to 300 million euros for the company.

The restructuring is expected to save 300 to 350 million euros annually from 2024, says Luca Musica, the company’s chief financial officer. The company believes that this will help it increase investment in strategic growth.

Himal Sanchar