Dow Jones Newswires
The logo of German software company SAP is pictured at the company’s headquarters on the sidelines of the company’s annual financial statement in Walldorf, Germany.
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SAP SE XE:SAP is embarking on a restructuring program that will affect some 2,800 employees as the German business software company seeks to strengthen its core cloud business at a time when customers are being more cautious with their spending.
The Walldorf, Germany-based company said Thursday that it would book most of 250 million euros to 300 million euros ($272.9 million – $327.4 million) in restructuring costs in the current quarter. The move is expected to generate EUR300 million to EUR350 million in annual cost savings…
