As part of the restructuring this year, SAP will increase its focus on growth areas, particularly artificial intelligence for business, and identify “AI-driven efficiencies” in its operations, it said in a statement late Tuesday. It plans to end 2024 with a headcount similar to current levels because it will add employees to its newer businesses, and SAP said most impacted workers will be covered by voluntary leave programs and retraining.
SAP SE shares jumped the most in more than three years after the German software company said it’s planning a restructuring that will affect about 8,000 jobs and increase its focus on artificial intelligence. The company projected that operating profit would rise to roughly €10 billion (US$10.9 billion) next year as result.
The shares jumped 6.2% at 10:35 a.m. in Frankfurt after earlier jumping as much as 8.2% to €161.54, the biggest intraday gain since July 2020 and a record high.
