news/AMZN/2023.01.26/SAP to cut 3,000 jobs in efficiency move, explores Qualtrics stake sale.txt

With the planned job cuts, SAP joins other big tech companies including Microsoft and Amazon in turning to layoffs to cut costs. SAP reported a 30% revenue increase in its cloud business in the fourth quarter, helped by strong demand for its HANA software.    Analysts are worried that the lucrative cloud segment for big tech companies could be hit hard as customers look to cut spending.SAP's operating profit grew 17% in the three months through December to 1.71 billion euros ($1.87 billion) on group revenue of 8.44 billion euros, it said.($1 = 0.9159 euros) (Reporting by Kirsti Knolle; Editing by Paul Carrel and Miranda Murray)