SAP to lay off up to 3,000, may sell Qualtrics stake

During its financial results call this week, business application giant SAP announced that it will lay off up to 3,000 employees (about 2.5 per cent of its workforce), though it did not provide details of the affected geographies or business units. Chief executive officer Christian Klein said the layoffs are part of what he called “a targeted restructuring in select areas of the company.”

The company also said that it is considering selling its stake in Qualtrics, which it acquired in 2019 and then spun off in 2021 while retaining 71 per cent ownership. That decision would be subject to market conditions and negotiating an acceptable deal, as well as the usual approvals from regulatory bodies and the company board, it said.

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