From local business journal...
https://www.bizjournals.com/sanjose/news/2023/02/13/sap-cutting-jobs-in-palo-alto-san-ramon.html
Software giant SAP SE is laying off 159 employees in Palo Alto and another 65 in San Ramon.
The German company intended to notify affected workers Monday, Megan Smith, head of human resources for its North American operations, told state and local officials in a pair of letters Monday. The job cuts will take effect around April 19, Smith said.
"Changing business needs requires the company along with a number of its U.S. subsidiaries and affiliates to implement a permanent mass layoff of a portion of the employees" at the two locations, she said.
SAP representatives did not immediately respond to a request for comment.
The layoff notifications come about two weeks after the tech company told investors it planned to cut 2.5% of its global staff, or about 2,700 people. SAP expects to recognize a 250 million to 300 million euro charge related to the restructuring in the first quarter. It expects the cuts to save it around 300 million to 350 million euros a year beginning in 2024.
The job cuts will affect employees who work at 3410 Hillsview Ave. in Palo Alto and 2700 Camino Ramon in San Ramon, Smith said in her letters. She did not include a list of the positions held by those it's letting go.
Prior to the layoffs, SAP had about 3,500 Silicon Valley employees, according to Business Journal research.
Last year, SAP earned 1.7 billion euros on 30.9 billion euros in sales. In the prior year, it earned 5.4 billion euros on sales of 27.8 billion euros.
The company, whose name adorns the arena where the San Jose Sharks play, is one of many Silicon Valley employers that have announced layoffs in recent months. On Monday, San Francisco-based Twilio Inc. announced plans to lay off 1,500 workers, and Ouster Inc., also of San Francisco, said it planned to cut jobs as a result of its just-completed merger with San Jose's Velodyne Lidar Inc.