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The tech bigwigs IBM and SAP have joined the list of significant businesses that have laid off large amounts of employees after both announced they would be eliminating thousands of employees.
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SAP announced the reductions on Thursday. The software giant from Germany announced they would be eliminating around 3000 jobs, which equates to approximately 2.5 per cent of their workforce.
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"This was a difficult decision, and we are deeply aware of the personal impact of these changes," the Germany-based company said in a statement.
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"We will provide colleagues the care and support they need during this challenging time."
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The company stated that they were also thinking of selling Qualtrics in the four years since they bought the company's business software.
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IBM announced large-scale layoffs of their own on Wednesday, with CFO James Kavanaugh telling Bloomberg the company plans to cut roughly 3,900 employees.