FILE PHOTO: The logo of SAP is seen on their offices in Reston, Virginia, U.S., May 12, 2021. Picture taken May 12, 2021. REUTERS/Andrew Kelly/File Photo
(Reuters) -Germany’s SAP SE on Tuesday announced its plan to carry out a company-wide restructuring covering roughly 8000 employees, and also provided its revenue outlook for full-year 2024.
The business software maker said it forecast 2024 cloud revenue at 17 billion euros ($18.45 billion) to 17.3 billion euros and also updated its 2025 outlook forecasting adjusted cloud gross profit of approximately 16.2 billion euros.
The company reported a 20% rise in fourth-quarter cloud revenue at 3.70 billion euros.
SAP’s restructuring programme would be implemented through voluntary leave programs and internal re-skilling measures, the company said, adding it expects to exit 2024 with a headcount “similar to the current levels”.
Restructuring expenses are preliminarily projected at around 2 billion euros, the company said, adding the vast majority of the expenses is expected to be recognised in the first half of 2024, impacting operating profit.
($1 = 0.9215 euros)
(Reporting by Kanjyik Ghosh; Editing by Krishna Chandra Eluri)
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