SAP Announces Restructuring Plan Covering 8,000 Employees, Provides 2024 Outlook

T-Reuters01-24

Germany's SAP SE (SAP), opens new tab on Tuesday announced its plan to carry out a company-wide restructuring covering roughly 8000 employees, and also provided its revenue outlook for full-year 2024.

SAP shares jumped 5% on the news.

The business software maker said it forecast 2024 cloud revenue at 17 billion euros ($18.45 billion) to 17.3 billion euros and also updated its 2025 outlook forecasting adjusted cloud gross profit of approximately 16.2 billion euros.

The company reported a 20% rise in fourth-quarter cloud revenue at 3.70 billion euros.

SAP's restructuring programme would be implemented through voluntary leave programs and internal re-skilling measures, the company said, adding it expects to exit 2024 with a headcount "similar to the current levels".

Restructuring expenses are preliminarily projected at around 2 billion euros, the company said, adding the vast majority of the expenses is expected to be recognised in the first half of 2024, impacting operating profit.

($1 = 0.9215 euros)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

5

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1154060869?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-01-24 07:51","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1154060869","market":"us","top_or_hot":-1,"title":"SAP Announces Restructuring Plan Covering 8,000 Employees, Provides 2024 Outlook","media":"T-Reuters","content":"<html><head></head><body><p>Germany&#39;s SAP SE (SAP), opens new tab on Tuesday announced its plan to carry out a company-wide restructuring covering roughly 8000 employees, and also provided its revenue outlook for full-year 2024.</p><p>SAP shares jumped 5% on the news.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eecde07190877c75572298cac2251ed4\" tg-width=\"869\" tg-height=\"851\"/></p><p>The business software maker said it forecast 2024 cloud revenue at 17 billion euros ($18.45 billion) to 17.3 billion euros and also updated its 2025 outlook forecasting adjusted cloud gross profit of approximately 16.2 billion euros.</p><p>The company reported a 20% rise in fourth-quarter cloud revenue at 3.70 billion euros.</p><p>SAP&#39;s restructuring programme would be implemented through voluntary leave programs and internal re-skilling measures, the company said, adding it expects to exit 2024 with a headcount &#34;similar to the current levels&#34;.</p><p>Restructuring expenses are preliminarily projected at around 2 billion euros, the company said, adding the vast majority of the expenses is expected to be recognised in the first half of 2024, impacting operating profit.</p><p>($1 = 0.9215 euros)</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SAP Announces Restructuring Plan Covering 8,000 Employees, Provides 2024 Outlook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSAP Announces Restructuring Plan Covering 8,000 Employees, Provides 2024 Outlook\n</h2>\n\n<h4 class=\"meta\">\n\n2024-01-24 07:51 北京时间&nbsp;&nbsp;&nbsp;<strong>T-Reuters</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Germany's SAP SE (SAP), opens new tab on Tuesday announced its plan to carry out a company-wide restructuring covering roughly 8000 employees, and also provided its revenue outlook for full-year 2024....</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SAP","symbol_name":"SAP SE","start_time":0,"source_url":"","article_id":"1154060869","we_media_id":"1086160438","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1154060869","pubTimestamp":1706053892,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"T-Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1086160438","head_image":"https://static.tigerbbs.com/a113a995fbbc262262d15a5ce37e7bc5"},"summary":"Germany's SAP SE , opens new tab on Tuesday announced its plan to carry out a company-wide restructuring covering roughly 8000 employees, and also provided its revenue outlook for full-year 2024.The business software maker said it forecast 2024 cloud revenue at 17 billion euros  to 17.3 billion euros and also updated its 2025 outlook forecasting adjusted cloud gross profit of approximately 16.2 billion euros.The company reported a 20% rise in fourth-quarter cloud revenue at 3.70 billion euros.SA","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SAP":"SAP SE"},"translate_title":"SAP宣布涵盖8,000名员工的重组计划，提供2024年展望","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SAP":1.1},"content_text":"Germany's SAP SE (SAP), opens new tab on Tuesday announced its plan to carry out a company-wide restructuring covering roughly 8000 employees, and also provided its revenue outlook for full-year 2024.SAP shares jumped 5% on the news.The business software maker said it forecast 2024 cloud revenue at 17 billion euros ($18.45 billion) to 17.3 billion euros and also updated its 2025 outlook forecasting adjusted cloud gross profit of approximately 16.2 billion euros.The company reported a 20% rise in fourth-quarter cloud revenue at 3.70 billion euros.SAP's restructuring programme would be implemented through voluntary leave programs and internal re-skilling measures, the company said, adding it expects to exit 2024 with a headcount \"similar to the current levels\".Restructuring expenses are preliminarily projected at around 2 billion euros, the company said, adding the vast majority of the expenses is expected to be recognised in the first half of 2024, impacting operating profit.($1 = 0.9215 euros)","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":5,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1154060869"}