SAP plans to 'transform' 8,000 jobs due to AI-driven business
SAP plans to 'transform' 8,000 jobs due to AI-driven business
One of Europe’s biggest tech companies is restructuring 8,000 jobs in an effort to shift their focus to AI.
SAP... just the name brings back bad memories of using their software.
I work in the SAP industry, so obviously I'm quite biased but looking at the competition, SAP really isn't that bad. I saw many competitor products in various projects (Workday, Oracle, Microsoft...) and from my personal view, SAP is still the superior, most feature-complete and (in the non-public-cloud version) best enhanceable software.
However, I also learned over time that many SAP customers are not trained properly and/or the software is poorly configured by implementation partners which often leads to a bad user experience.
Definitely not saying SAP is perfect by any means but I still havn't seen a better solution for big companies with complex requirements.
I bombed an interview with them many moons ago. I guess it was a blessing.
This is the best summary I could come up with:
SAP shares jumped more than 9% on Wednesday and hit record levels after the software giant announced restructuring plans affecting thousands of jobs, as the company prepares for generative AI to fundamentally change its business.
“With the planned transformation program, we are intensifying the shift of investments to strategic growth areas, above all Business AI,” said Christian Klein, CEO.
Global tech companies including Google and Microsoft have announced layoffs recently as they are embracing artificial intelligence software and making their workload increasingly more automated.
SAP expects that the transformation will increase efficiency so much that the operating profit will be raised by half a billion euros in 2025.
The annual earnings beat expectations and boosted share prices further after the company’s stocks soared by more than 50% throughout the last 12 months.
The annual revenue of its key cloud business saw a 20% jump, as SAP expects accelerated growth in this segment in 2024.
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