SAP Plans to Sell Qualtrics Stake, Cut 3,000 Jobs
- Company forecast adjusted operating profit ahead of estimates
- The restructuring will impact about 2.5% of SAP’s employees
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SAP SE is planning to cut about 3,000 jobs this year while exploring a sale of its remaining stake in Qualtrics International Inc. as the company looks for ways to boost profit.
The German software company expects adjusted operating profit for 2023 to rise to a range of €8.8 billion ($9.6 billion) to €9.1 billion at constant currencies, according to a statement on Thursday. That beat the average €8.65 billion forecast by analysts in a Bloomberg survey.