Análisis de la acción SAP SE (SAP)SAPSAP SE

$IBM Software was the biggest gainer?! $SAP also rallying? So, AI didn't kill off these legacy SaaS? I'm getting excited for $NOW ER.

Tech companies are cutting jobs again, and this time it's not just Silicon Valley. Amazon, Meta, Google, and Microsoft have all trimmed roles over the past two years, and non-Silicon Valley firms like SAP and Cisco are restructuring too. According to layoff trackers, the global tech industry has cut six-figure numbers of positions over the past two years. On the surface it shows up as "restructuring charges" and "severance costs" on earnings reports, but behind it is mortgage rate pressure hitting ordinary households first: the U.S. 30-year fixed mortgage rate approached 8% at one point and remains above 6% even after pulling back. On the same loan, monthly payments are several hundred dollars higher than during the low-rate era, and credit card and auto loan delinquency rates are also ticking up. Households cut spending first, then businesses feel demand cool, and only then does that line on the earnings report appear. Before every Fed meeting, the market prices in expectations ahead of time: when rate-cut hopes heat up, stocks and bonds rally first; on the actual day, even an in-line outcome feels like a non-event, or even "buy the rumor, sell the fact." So don't treat a single meeting as a turning point, and companies aren't making decisions based on one rate decision either. Layoffs at this scale show companies are stockpiling for winter, not waiting for spring. They're cutting projects, freezing hiring, requiring return-to-office, and concentrating resources on the most profitable businesses to protect margins and cash flow first. In other words, this isn't a short sprint of adjustment but positioning for a "longer winter." Has anyone around you been caught up in this wave? Did they take severance and leave, or transfer roles, take pay cuts, or face a hiring freeze? Share your thoughts.