British software company Sage said it will cut more than 800 jobs across the world as it trims its business to focus more on investments in cloud-based subscription products.
The company, which provides software to small and medium sized businesses, would remove about 200 roles in the UK and Ireland region, 250 in North America and 370 jobs across Europe, Middle East, Africa and Asia-Pacific.
Sage Chief Executive Officer Steve Hare said the reduction in jobs will help the company to rebalance our investments towards our strategic priorities and simplify the business.
“We will at the same time create new positions and continue to hire to build the capabilities we need for the future,” said Hare in the statement.
Sage had said earlier in the day its Chairman Donald Brydon was stepping down and will be replaced by Andrew Duff.
In July, Sage said it expects annual revenue growth to be slightly above its previous outlook as nine-month total sales rose 2.6 percent to 1.33 billion pounds ($1.79 billion).