SAP Seeks Staff Discipline on Costs After Forecast Cut
SAP AG (SAP) asked staff to exercise discipline on costs after the biggest maker of business-management software said it will miss a revenue goal.
The call focuses on external services, travel and infrastructure expenses, Daniel Reinhardt, a spokesman for the Walldorf, Germany-based company said in an e-mail to Bloomberg News today.
Earlier this month, SAP said software and software-related service revenue will grow at least 10 percent this year, down from a previous goal of an increase of 11 percent to 13 percent. The target doesn’t reflect swings in exchange rates and isn’t based on IFRS accounting rules, according to the company.
SAP wants to save 200 million euros ($265.6 million) in the second half with the plan, German news magazine Wirtschaftswoche reported on its website today, citing internal company documents. Reinhardt declined to comment on the report when contacted by Bloomberg News by phone.
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