One of Europes biggest tech companies is restructuring 8,000 jobs in an effort to shift their focus to AI.
ADVERTISEMENTSAP shares jumped more than 9% on Wednesday and hit record levels after the software giant announced restructuring plans affecting thousands of jobs, as the company prepares for generative AI to fundamentally change its business.
The company, known for its software products used to manage business operations and customer relations, has pledged to spend 2 billion on re-investments, such as backing AI-powered technology startups and training to boost artificial intelligence (AI)-driven business areas.
The transformation affects approximately 8,000 of its current employees, out of more than 107,000.
The company sa…
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