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SAP plans restructuring after signs of weakness emerge

 

WALLDORF, Germany: SAP will take a restructuring charge of up to 950 million euros (US$1 billion) to reshape its business after growth slowed in parts of the software maker over the last three months.

 

SAP, Europe's most valuable technology company, will reassign some employees and offer early retirement to others, but still expects its overall head count to exceed 100,000 by the end of 2019, up from 96,500 at the turn of the year.

 

"This is not a cost-cutting move. We are a growth company," Chief Executive Bill McDermott told Reuters in an interview at SAP's sprawling campus in Walldorf.


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