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German IT giant to continue job cuts

The company at the same time is going to increase investments in Germany

BERLIN, July 23. /TASS/. SAP, the largest IT company in Germany, plans to continue job cuts.

"One or even two percent of jobs may be lost over the year," SAP CEO Christian Klein told the DPA AFX news agency. SAP announced 10,000 jobs cuts in early 2024 and they have been completed for the time being.

The company at the same time is going to increase investments in Germany. SAP invested about 10 bln euro in research and development over the last five years. Investments are to be increased by 2 bln euro by 2027, Klein said.

SAP has announced restructuring plans earlier. It is a global leader in software development for business needs and the largest technology company in Germany. Amid proactive progress of artificial intelligence technologies and new industry leaders emerging, such as OpenAI, the corporate management decided to focus on this sphere to keep positions in the market.

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Internet & Telecom

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