SAP’s First-Quarter License Revenue Misses Estimates, Plans to Cut Jobs
SAP AG, the world’s biggest maker of business-management software, said first-quarter license revenue plunged 33 percent, more than analysts anticipated.
SAP has frozen salaries and plans to cut 3,000 jobs this year, the first redundancies since it was founded. Rival Oracle Corp. said last month its new software license sales fell 6 percent in the quarter ended Feb. 28.
Source: Bloomberg
