Thomson Reuters
- SAP has announced a restructuring plan that will affect 8,000 employees.
- The shakeup comes amid a new focus on AI aimed at cutting costs and boosting profits.
- SAP shares hit a record high Wednesday after the announcement.
SAP will offer buyouts or different roles to about 8,000 workers in a restructuring plan related to the rapid rise of artificial intelligence.
The changes at the German software company are part of a $2.2 billion "transformation program" that aims to cut costs while introducing a new focus on AI — a key strategic growth area.