SAP will reportedly cut up to 2,500 jobs, a source told Reuters. The German software giant will require fewer onsite staff as it moves its software programs to the cloud, according to the report.
The source told Reuters that the number of jobs being cut wasn't definite, with estimates ranging between 1,500 and 2,500. The source said cuts would be made across all regions. SAP told Reuters on Wednesday that there would be targeted job cuts, but declined to say how many.
Reuters is also reporting SAP plans to create about 3,000 new jobs this year. The company currently employs 67,000 workers across the world. SAP was not immediately available for a TechRadar interview request.
SAP's solid Q1
SAP Q1 revenue increased 3% to $5.1 billion, compared with Q1 of 2013. The organization said its revenue increase was due to a 60% increase in revenue from cloud subscriptions and support.
SAP's net profit also increased 3% to $739 million during the quarter. At the time of the earnings announcement, SAP co-Chief Executive Bill McDermott said he expects the company to generate $8 billion in 2014, an increase of approximately $400 million over last year.
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