By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
TechziTechziTechzi
  • Home
  • Community
    • Our Review
    • Join Our Slack community
    • Referral: Richieee
    • Referral: 6 for 6
  • Publications
    • Special Report: SE Asian Startup Funding
    • Top 30 Most Funded Southeast Asia Startups
  • Agencies
  • About
    • About us
    • Contact
Search
© 2023 Techzi . All Rights Reserved.
Reading: SAP Restructures Amid Rise of AI, Impacting 8,000 Jobs
Share
Font ResizerAa
TechziTechzi
Font ResizerAa
Search
  • Home
  • Community
    • Our Review
    • Join Our Slack community
    • Referral: Richieee
    • Referral: 6 for 6
  • Publications
    • Special Report: SE Asian Startup Funding
    • Top 30 Most Funded Southeast Asia Startups
  • Agencies
  • About
    • About us
    • Contact
Have an existing account? Sign In
Follow US
© 2023 Techzi . All Rights Reserved.
AISaaS

SAP Restructures Amid Rise of AI, Impacting 8,000 Jobs

Archy Ehan
Last updated: February 12, 2024 1:30 pm
Archy Ehan
Share
2 Min Read
SHARE
  • SAP unveils an AI transformation program.
  • It will retrain or offer packages to 8,000 employees.
  • The $2.2B initiative aims to boost profits and focus SAP on business AI.

Contents
SAP’s AI prioritization programRedeploying resourcesGrowth and strategic investments

SAP’s AI prioritization program

SAP, the German enterprise software giant, has unveiled a transformation program aimed at prioritizing artificial intelligence capabilities in its products.

As part of the $2.2 billion initiative, around 8,000 employees – approximately 7% of SAP’s workforce – will be offered retraining or voluntary redundancy packages throughout 2023.

While the restructuring will not involve involuntary layoffs, it represents a concerted shift for SAP as AI takes on growing strategic importance.

Redeploying resources

The company aims to redeploy resources and skills to focus on “Business AI” offerings while projecting a $1.5 billion boost in operating profits by 2025 from the changes.

The announcement came as SAP reported stronger-than-expected earnings results, with growth being driven by its cloud segment.

Growth and strategic investments

Its push into AI also builds on steady investments in AI startups, with SAP having allocated around $1 billion to acquire AI enterprise technology companies over recent years.

“SAP is opening the next chapter: with the planned transformation program, we are intensifying the shift of investments to strategic growth areas, above all Business AI,” commented CEO Christian Klein on the company’s outlook.

SAP expects the headcount to remain at current levels.

TAGGED:div5

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook X Copy Link Print
Share
Previous Article China Approves Record 115 New Game Titles in January
Next Article Flipkart Co-Founder Binny Bansal Resigns From Board

Subscribe to our newsletter to get our newest articles instantly

Please enable JavaScript in your browser to complete this form.
=

Stay Connected

XFollow
InstagramFollow
YoutubeSubscribe
TiktokFollow

Latest News

Techzi is Pausing
Media December 24, 2024
Twitch Pioneer Emmett Shear Launches Mysterious AI Venture
AI December 24, 2024
OpenAI CEO Labels Musk a ‘Bully’ in Latest Tech Titan Clash
AI December 24, 2024
AI Revolution Could Spark Live Entertainment Boom
Culture December 24, 2024

You Might also Like

Crypto & Web3

Bitcoin Surges Past $107K, Riding Wave of Crypto Optimism

December 23, 2024
Deep Tech

Robot Renaissance: Generative AI Paves the Way for Multi-Talented Machines

June 20, 2024
Startups

Startup Success Secrets: Perplexity AI’s CEO Reveals Team-Building Strategies

December 17, 2024
Proptech

PropertyGuru Lays Off 79 Amid Shift in Business Strategy

March 1, 2024
Edutech

London School’s 12-Hour Day Unplugs Students from Digital Dependence

July 22, 2024
e-Commerce

Shopee Doubles Down on In-House Logistics, Reaping Q1 Growth Rewards

May 20, 2024
e-Commerce

Indian Beauty E-commerce Startup BuyEazzy Raises $4.2M Series A

February 12, 2024
Crypto & Web3

BNB Soars as Binance Co-Founder Begins Prison Term

June 14, 2024
Strategy

Anthony Vicino and His 13 Epiphanies

February 12, 2024
AIFAANG

Gates: 3-Day Work Week “Probably OK” in AI-Powered Future

February 17, 2024
SaaS

Southeast Asia’s SaaS Sector: A Diamond in the Rough

July 24, 2024
AI

Google Launches AI Studio for Easy Gemini Development

February 17, 2024

Techzi

SE Asian tech news: Free & Comprehensive. Read more

Quick Links

  • Logistics
  • Marketplace
  • Mobility
  • Startups
  • VC
  • Food tech
  • Gaming
  • Health-Tech
  • Media
  • Social Media
  • SaaS
  • Travel

Quick Links

  • AI
  • Edutech
  • Climate
  • Creators
  • Crypto & Web3
  • Culture
  • Deep Tech
  • e-Commerce
  • FAANG
  • Fashion
  • Fintech

Techzi Tech Newsletter

FREE and Curated by Tech Insiders

Legal

Privacy Policy

Terms & conditions

TechziTechzi
Follow US
© 2024 Techzi . All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?