SAP Locks In Job Guarantees Through 2028 While Spotlight Turns to Las Vegas

SAP seals a job-security pact through 2028 as it prepares for SAP Connect in Las Vegas and reports a EUR 108.4 million share buyback.

SAP has moved to steady the home front ahead of a busy stretch of product announcements and quarterly reporting, sealing a job-security pact with employee representatives at its parent company even as it deepens a string of technology alliances.

The Walldorf software group and the works council of its holding company agreed on Thursday to guarantee employment through the end of 2028, according to a Handelsblatt report. Under the arrangement, workers whose roles are eliminated during restructuring will be offered alternative positions elsewhere in the group. Training programs round out the deal, and staff who are reassigned will keep their existing salary level. A comparable framework is still being negotiated for the German sales unit. For management, the agreement buys room to make operational adjustments while giving the workforce a measure of predictability during the coming transformation.

Las Vegas as the Stage for the AI Pitch

Attention now shifts to SAP Connect, which opens October 5 in Las Vegas, with the virtual portion running October 6 and 7. The gathering serves as the company's showcase for new developments in business software and artificial intelligence, arriving at a moment when leadership has tied its growth ambitions squarely to AI features. CEO Christian Klein, in remarks reported by Handelsblatt on September 28, called the new AI products a historic opportunity for substantial growth and said the company had made solid progress advancing its software and applications.

The conference also highlights progress on the partnership front. SAP disclosed on September 28 a deeper collaboration with Nvidia centered on integrating NVIDIA OpenShell into the SAP Business AI platform, with the company's own engineers contributing directly to the OpenShell codebase. That architecture is to be embedded in SAP Business AI and hooked into the governance layer of Joule Studio, giving enterprises standardized controls for AI applications in business workflows.

Practical deployments are getting airtime too. SAP has been pushing use cases such as cost control for AI tokens and autonomous processes in payroll, and on Wednesday it presented a project with Swiss transport operator BERNMOBIL, which is using the software for future planning. A separate tie-up with Petroleum Development Oman will develop Omani talent by linking local programs to SAP's Young Professionals Program, while a possible expansion of the existing NetApp alliance is under review, focused on deeper cloud-native integration of NetApp functions into SAP Cloud Infrastructure and joint go-to-market efforts.

Buyback Keeps Rolling

On the capital markets, SAP continues to put its own cash to work. Roughly a week ago the company reported the purchase of 590,000 of its own shares on Xetra under its ongoing buyback program, for a total volume of EUR 108,368,601.00. That brought the cumulative repurchase tally to 8,895,886 shares.

Analysts have been warming up as well. Charles Brennan of Jefferies reaffirmed a buy rating on the stock on September 22 and simultaneously lifted his price target to EUR 220 from EUR 210.

The shares closed Friday at EUR 184.70, down 1.4 percent on the day. The stock sits 2.6 percent above its 50-day moving average of EUR 179.95 and remains 11 percent above its 200-day average. Third-quarter results are scheduled for release on October 21, 2026.