Thursday, January 29, 2009

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SAP to Cut More Than 3,000 Jobs Amid Global Slump

SAP AG, the world’s biggest maker of business-management software, will slash more than 3,000 jobs and freeze salaries this year as the economic slump hurts demand.

The workforce will be reduced to 48,500 this year, the Walldorf, Germany-based company said in a statement today. SAP employed 51,536 people at the end of 2008. Costs to eliminate jobs will weigh on margins this year and save as much as 350 million euros ($464 million) annually starting in 2010, SAP said.


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