General

SAP will postpone the procedure for leaving the Russian market

SAP will postpone the procedure for leaving the Russian market to the beginning of next year. According to Reuters, SAP

have not yet been able to find a buyer for theirRussian assets, the company also faces a number of difficulties when trying to exit the Russian business. Earlier, SAP CFO Luka Muchic said that the company intends to complete the procedures for curtailing business in Russia by the end of this year and expects that this will cost the company €350 million. SAP has already closed its data centers and cloud services, but still retains contracts for technical service in Russia due to possible legal risks. According to Russian law, the heads of local divisions are personally liable for violations of the contract. Previously, 1,250 employees worked in the Russian office of SAP, by the end of the year the number of office employees will be reduced to 100. Among the Russian clients of SAP are such companies as Gazprom, Sberbank, Norilsk Nickel and other leading companies in the Russian market.