Sunday, June 16, 2024

SAP Cuts Spending as Profit Forecast Falls Short

Datamation content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More.

eWeek: In an interview with German news magazine WirtschaftsWoche SAP CFO Werner Brandt confirmed that the company’s income so far this year has not met expectations. In the first six months of 2012, the enterprise software vendor earned $2.35 billion, putting it on track to make $6.23 billion to $6.48 billion for the year. That falls short of its $6.56 billion goal for income.

As a result, SAP plans to trim expenses. “We have to cut costs considerably in the second half to reach our internal target,” Brandt said. While the company is not planning layoffs or a hiring freeze, it does plan to replace some travel with videoconferencing.

Subscribe to Data Insider

Learn the latest news and best practices about data science, big data analytics, artificial intelligence, data security, and more.

Similar articles

Get the Free Newsletter!

Subscribe to Data Insider for top news, trends & analysis

Latest Articles