Wednesday January 28, 07:30 AM
German software giant SAP to cut 3,000 jobs
FRANKFURT (AFP) - The world leader in professional software, Germany's SAP (Xetra: SAP.DE - news) , said Wednesday it will cut more than 3,000 jobs this year to save up to 350 million euros (460 million dollars) as demand slumps.
The company, following the lead of many others as the global downturn bites deeper, said the job cuts will allow it to "adjust to difficult market conditions."
SAP employs 51,000, according to its website.
It added that it would not be making forecasts for this year because of "the limited visibility" in the business.
The company said its 2008 net profit fell 2.0 percent to 1.88 billion dollars as sales rose 14 percent to 8.46 billion euros.
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