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SAP SE Shares Trending Lower Following Boerse Online Report

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Shares of SAP SE ADR (NYSE: SAP) are trading lower Wednesday morning following a Boerse Online report of a "hiring freeze" at the company.

Within the report, a Boerse Online writer quoted SAP CFO Luka Mucic:

"All new hires shall be postponed until 2015," Mucic wrote in an email to the company executives.

SAP implemented this strategy to reduce cost and exercise more budgetary discipline, as the company expects fourth quarter results will be below estimates.

Shares of SAP recently traded at $67.95, down 3.5 percent.

Posted-In: Boerse Online Luka MucicNews

 

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