SAP CEO Bill McDermott
SAP will take a restructuring charge of up to $1 billion amid slowing growth in the companys cloud services bookings, and some targeted challenges elsewhere in the business. The big question mark: Is this just a software company in transition, or is the restructuring charge a sign of larger economic challenges facing the overall enterprise software, cloud and technology industries?
The restructuring will trigger roughly 4,400 staff departures from SAP, the company indicated. Layoffs? Not exactly. Instead, the company will promote early retirement packages. Some staff reassignments should also be expected.
So is SAP in cost-cutting mode? The company dismisses such claims. This …
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