WALLDORF, Germany (Reuters) – Business software company SAP said on Tuesday it would undertake a company-wide restructuring to accelerate its business transformation, after missing its revenue and profits guidance in 2018.
FILE PHOTO: The logo of German software group SAP is pictured at its headquarters in Walldorf, Germany, May 12, 2016. REUTERS/Ralph Orlowski/File Photo
SAP, Europes most valuable technology company said it would take restructuring charges of 800 to 950 million euros ($912 million to $1.04 billion), mainly in the first quarter.
It sees a minor cost benefit in 2019 and savings of 750 to 850 million euros from 2020.
Walldorf, Germany-based SAP will reassign some employees and offer early retirement to others, but still …
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