1507 GMT - SAP is the most mentioned company across news items over the past 12 hours, according to Factiva data, after it said it would cut almost 3,000 jobs as it seeks to strengthen its core cloud business at a time when customers are being more cautious with their spending. The German software company said it would book most of EUR250 million-EUR300 million in restructuring costs in the current quarter. The company also said it is exploring a sale of its stake in Qualtrics International Inc. to focus more on its own cloud growth and profitability. Dow Jones & Co. owns Factiva. (cecilia.butini@wsj.com)

(END) Dow Jones Newswires

January 26, 2023 10:22 ET (15:22 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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