SAP SESAP freezes hiring and cuts travel to fund AI push, indicating cost pressures and restructuring ahead of Q2 earnings; stock down 47% over past year.

SAP is restricting new hiring and cutting non-AI business travel to redirect savings toward what it calls a significant push into AI. The German software giant has also undergone a sweeping leadership reorganization, with CEO Christian Klein personally taking control of AI product development under Project Fuji and COO Sebastian Steinhäuser assuming responsibility for Industrial AI. This marks the second major restructuring in 2026, following the creation of a Customer Value Group in March and dedicated Business AI Platform and Autonomous Suite units in May. Klein told The New York Times he expects a very different workforce in two to three years, though the company has added over 3,500 net new roles since a €2 billion cost program affecting 8,000 positions. The moves come ahead of a critical Q2 earnings report on July 23, with the stock down roughly 47% over the past year.
SAP SESAP freezes hiring and cuts travel to fund AI push, indicating cost pressures and restructuring ahead of Q2 earnings; stock down 47% over past year.