SAP Labs India lays off around 300 employees
The affected employees have been given severance packages of salaries equal to the number of years of service in the company.
SAP Labs, the research and development business unit of German technology firm SAP, has laid off around 300 executives in India, said a report by The Economic Times.
These layoffs were majorly in its Bengaluru and Gurugram offices. The report said it was a result of shuttering of a global delivery centre that housed custom development roles to undertake SAP implementation projects.
Those affected were given severance packages of salaries equal to the number of years of service in the company.
YourStory has reached out to the company for a response and will update the copy if and when it responds.
Apart from Bengaluru and Gurugram, SAP Labs India has offices in Hyderabad, Pune, and Mumbai.
In January, Kulmeet Bawa, Managing Director and President, India subcontinent for SAP, had told The Economic Times that India’s contribution to SAP’s cloud revenues in the Asia Pacific and Japan region had doubled in the last two years, and the country remains the top market in the region for the German technology company.
Edited by Megha Reddy