It is said that the decision to lay off has been taken with the intention of reducing the costs of the company. IT companies are often involved in redundancies with the aim of reducing their costs and efficiency. Similarly, automobile companies have been downsizing heavily for the same reason for the past few months.
In the case of SAP, not only layoffs but also share sales. It is in the process of selling shares in Qualtrics, an experience management company it owns. For this, the help of Morgan Stanley has been sought. SAP has embarked on this move to focus fully on its core business and to reduce costs and increase revenue. It is noted that approximately 1.20 lakh employees are working in SAP worldwide.
A few days ago the famous automobile company Ford announced the layoffs. It announced about 3,200 layoffs across Europe. There were similar high layoffs last year as well. More than 3,000 people were laid off in the second half of 2022. A lot of people were affected in America.
It has been said by the Ford company that there are too many employees in various branches of the Ford company and they are laying off the remaining people only according to the need. More layoffs are expected this year.