Sunday, April 11, 2021

SAP Cuts Spending as Profit Forecast Falls Short

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.

Similar articles

Latest Articles

The Conversational AI Revolution:...

One of the things I’m looking forward to seeing at next week’s NVIDIA GTC event is an update on their Conversational AI efforts. I’m fascinated...

Edge Computing

Edge computing is a broad term that refers to a highly distributed computing framework that moves compute and storage resources closer to the exact...

Data-Driven Decision Making: Top...

The phrase data-driven decision making – certainly popular in the field of data analytics – may seem redundant. After all, nearly everything is driven...

Top Performing Artificial Intelligence...

As artificial intelligence has become a growing force in business, today’s top AI companies are leaders in this emerging technology. Often leveraging cloud computing and...