Chitchat SAP to Leetrenched 8000 Employees

[Pinkieslut]

SAP plans job changes or buyouts for 8,000 employees in restructuring plan​

PUBLISHED TUE, JAN 23 20245:35 PM ESTUPDATED 5 HOURS AGO

Jordan Novet@JORDANNOVET
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KEY POINTS

• SAP announced a restructuring plan that will affect over 7% of SAP’s workforce of about 108,000, but headcount should be the same by year end, the company said.
• Management is looking to accelerate growth, partly through artificial intelligence, as it continues a push to become cloud-centric.

Christian Klein, CEO of the software company SAP, stands on the podium looking at his cell phone before the start of the company’s Annual General Meeting.
Uwe Anspach | Picture Alliance | Getty Images
SAP said on Tuesday that it aims to carry out voluntary buyouts or enable job changes for 8,000 employees as part of a restructuring program for 2024.
The German software company said in a statement that its headcount should remain the same at year end. SAP had about 108,000 full-time employees at the end of 2023, meaning that the restructuring will affect over 7% of the workforce.

SAP shares were up about 5% in extended trading. The stock jumped about 50% last year, its best performance since 2012, while the Nasdaq Composite index rose 43%.
SAP is aiming to reposition itself for faster growth, in part from artificial intelligence after revenue increased 5% year over year in the fourth quarter. Higher interest rates and concerns about the economy have hurt tech spending and led to layoffs across the industry, starting in late 2022. A year ago SAP said it would get rid of 3,000 roles.
The downsizing trend has continued to start 2024, with companies including Alphabet and Amazon announcing layoffs this month.
SAP said it now expects 10 billion euros ($10.85 billion) in 2025 adjusted operating profit. That’s down 2 billion euros from its previous outlook because of share-based compensation, but up by 500 million euros due to planned efficiencies from the restructuring.
CEO Christian Klein has been working to make SAP more cloud-centric, following similar shifts at Adobe, Microsoft and Oracle. Klein joined SAP in 1999. In 2019 he was named co-CEO with Jennifer Morgan to replace Bill McDermott, and in 2020 Klein became sole CEO. About 44% of SAP’s fourth-quarter revenue, totaling 8.47 billion euros, came from cloud services, up from 25% in 2019. That was above the consensus of 8.33 billion euros among analysts polled by LSEG.

 

[LaoHongBiscuit]

good to see cecas kana retrenched so they fuck back to their own country

 

[sbfuncle]

Good. Now all the ceos starts to listen to my advice long ago although still a far stretch from it.

As I have said multiple times I have put down several ceos in my workplace, even I were just low grade staff and I was not joking

 

[blackmondy]

The whole purpose of hiring more people by these big techs is to con investors into believing the company has growth potential and make them dump more money into it. Apparently the investors now see the real picture after the WeWork fiasco.

 

[congo9]

The whole purpose of hiring more people by these big techs is to con investors into believing the company has growth potential and make them dump money into it. Apparently the investors now see the real picture after the WeWork fiasco.

Wework is a con job

 

[Scrooball (clone)]

That must bring great relief to Wooden Goh.

And how about Bro Chee Meng? Will he be organizing some training for these jobless pricks instead of finding actual jobs for them?

 

[cockie]

good to see cecas kana retrenched so they fuck back to their own country

The problem is CECA kana chase out of the US and head down to Sillyapore…. And take a toll on the Singapore job market… where SIngaporeans are being taken away with the PMET jobs

 

[Rogue Trader]

SAP already reached product and market maturity. After forcing every existing customer to move to cloud they have no idea liao

 

[k1976]

SAP plans job changes or buyouts for 8,000 employees in restructuring plan​

PUBLISHED TUE, JAN 23 20245:35 PM ESTUPDATED 5 HOURS AGO

Jordan Novet@JORDANNOVET
SHAREShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email
KEY POINTS

• SAP announced a restructuring plan that will affect over 7% of SAP’s workforce of about 108,000, but headcount should be the same by year end, the company said.
• Management is looking to accelerate growth, partly through artificial intelligence, as it continues a push to become cloud-centric.

Christian Klein, CEO of the software company SAP, stands on the podium looking at his cell phone before the start of the company’s Annual General Meeting.
Uwe Anspach | Picture Alliance | Getty Images
SAP said on Tuesday that it aims to carry out voluntary buyouts or enable job changes for 8,000 employees as part of a restructuring program for 2024.
The German software company said in a statement that its headcount should remain the same at year end. SAP had about 108,000 full-time employees at the end of 2023, meaning that the restructuring will affect over 7% of the workforce.

SAP shares were up about 5% in extended trading. The stock jumped about 50% last year, its best performance since 2012, while the Nasdaq Composite index rose 43%.
SAP is aiming to reposition itself for faster growth, in part from artificial intelligence after revenue increased 5% year over year in the fourth quarter. Higher interest rates and concerns about the economy have hurt tech spending and led to layoffs across the industry, starting in late 2022. A year ago SAP said it would get rid of 3,000 roles.
The downsizing trend has continued to start 2024, with companies including Alphabet and Amazon announcing layoffs this month.
SAP said it now expects 10 billion euros ($10.85 billion) in 2025 adjusted operating profit. That’s down 2 billion euros from its previous outlook because of share-based compensation, but up by 500 million euros due to planned efficiencies from the restructuring.
CEO Christian Klein has been working to make SAP more cloud-centric, following similar shifts at Adobe, Microsoft and Oracle. Klein joined SAP in 1999. In 2019 he was named co-CEO with Jennifer Morgan to replace Bill McDermott, and in 2020 Klein became sole CEO. About 44% of SAP’s fourth-quarter revenue, totaling 8.47 billion euros, came from cloud services, up from 25% in 2019. That was above the consensus of 8.33 billion euros among analysts polled by LSEG.

Wow...announce during AEM ...must be shock and awe for many investors

 

[k1976]

The whole purpose of hiring more people by these big techs is to con investors into believing the company has growth potential and make them dump more money into it. Apparently the investors now see the real picture after the WeWork fiasco.

Chop employees is "right size" the company

 

[birdie69]

good to see cecas kana retrenched so they fuck back to their own country

No! they will be piggy back to Sindiapore by our garment

 

[k1976]

No! they will be piggy back to Sindiapore by our garment

To perform new projects in sg?
Eg SYT hunting in Party

 

[nabeifuckpap]

SAP Singapore a lot of CECA

 

[k1976]

The problem is CECA kana chase out of the US and head down to Sillyapore…. And take a toll on the Singapore job market… where SIngaporeans are being taken away with the PMET jobs

Got Good Pay Grab Jobs opening for Local talents to serve the Foreign Talents mah

 

[k1976]

SAP Singapore a lot of CECA
View attachment 194346

Without these Good TALENTS, many many condo will be emptied, Right, Boss JOhn?

 

[nabeifuckpap]

More CECA at SAP SG can be found using Google search SAP Singapore LinkedIn, repeat the same thing for all companies here a lot of foreign cunts and siao lang sinkies

 

[Loofydralb]

Without fail, a successful western company, when taken over by a CECAkroach will fall, eventually.