SAP Announces €2 Billion Restructuring Plan Focusing on AI

The move, affecting 8,000 roles, is expected to be implemented through voluntary leave and re-skilling measures, with SAP's headcount remaining similar by the end of 2024.

SAP SE, the German software firm, has announced a €2 billion ($2.17 billion) restructuring plan that will affect 8,000 roles as it aims to focus on growth in artificial intelligence (AI)-driven business areas.
The restructuring will be implemented mainly through voluntary leave programs and internal re-skilling measures, with the company expecting to exit 2024 with a headcount similar to current levels.
SAP has pledged to invest more than $1 billion in AI-powered technology startups via its enterprise capital firm, Sapphire Ventures.
The company's shares surged to a record high following the announcement, with American depositary receipts (ADRs) of SAP up over 7% in intraday trading.
SAP's key cloud business revenue at the end of 2023 was $13.66 billion euros, falling short of its forecast of 14.06 billion euros.