SAP to cut 3,000 roles, explore sale of Qualtrics stake
Publishing timestamp: 2023-01-26 05:28:17
Summary
SAP announced plans to cut up to 3000 jobs, or about 2.5% of its workforce, and explore the sale of its stake in Qualtrics, which it acquired in 2018 for $8 billion. SAP reported positive fourth-quarter results and expects to save $327-$382 million in run rate savings from the layoffs. Qualtrics announced fourth-quarter results and revenue guidance that exceeded analysts' forecasts.
Sentiment: MIXED
Keywords: qualtrics international inc, sap ag, business news, technology, sap se,
Source: https://www.cnbc.com/2023/01/26/sap-to-cut-3000-roles-explore-sale-of-qualtrics-stake.html