German software giant SAP has announced a company-wide restructuring plan to increase its focus on artificial intelligence, a move expected to cost $2.2 billion and affect 8,000 jobs.
“In 2024, SAP will further increase its focus on key strategic growth areas, in particular Business AI,” SAP said in a statement Tuesday, adding that it aims to capture “organizational synergies” and “AI-driven efficiencies”.
The company said it plans to execute a “company-wide transformation program” this year that will affect approximately 8,000 positions, the bulk of which “are expected to be covered by voluntary leave programs and internal re-skilling measures”.
SAP estimated the cost of restructuring at around two billion euros and said it expects to …
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