"SAP's Ambition 2025: Restructuring 8,000 Jobs for AI Transformation"

SAP's shares surged to an all-time high after announcing plans to restructure 8,000 jobs in a push toward artificial intelligence growth, with revenues increasing 5% year-over-year in the fourth quarter of 2023. The company aims to reskill its workforce and commit around $2 billion to the plans over the next two years, with the majority of affected employees being offered voluntary measures or reskilling opportunities, but not excluding the possibility of non-voluntary departures. SAP's cloud computing business is still growing, but there has been a significant deceleration in demand for software services.