SAP lays off 3000

GERMAN BUSINESS MANAGEMENT software firm, SAP, will slash 3000 of its 51,530 strong workforce, to save itself 350 million Euros ($460 million) as it goes to battle with the credit crunch.

Giving the standard, same ‘ole, same ‘ole reason of having to, "adjust to difficult market conditions", SAP said in a statement it would also not be making any forward looking financial forecasts this year due to limited visibility" in the business.

The redundancies may come as a shock to some, as SAP has been on something of a hiring spree the last few years, even voted "Germany's best employer" by a business mag just two short years ago. µ