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Software giant SAP to lay off 3,000 employees to focus on 'core business'
- SAP announces plans to cut 3,000 jobs and potentially sell its remaining stake in Qualtrics to focus on its cloud business and reduce costs.
- SAP currently holds a 71% stake in Qualtrics, a survey software company, which has a current market value of $7 billion.
- Despite the layoffs, SAP's cloud business revenue saw a 30% boost in Q4 due to strong demand for the company's software.
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