SAP germany company
The logo of German software company SAP is pictured at the company's headquarters on the sidelines of the company's annual financial statement in Walldorf, Germany, on January 29, 2019. - German software giant SAP said it would launch a billion-euro restructuring plan after profits stagnated in 2018, while insisting it was on track to grow revenues and earnings this year.DANIEL ROLAND/AFP/Getty Images

At least 400 Indian software engineers are likely to suffer due to the company-wide restructuring announced by German software giant SAP. Over 4,000 employees could lose their jobs worldwide.

SAP announced on Tuesday that the layoffs are not for cost-cutting but to bring in new employees with sound knowledge and understanding of the changes in technology.

"It is important to say that this restructuring programme, like similar programmes before, is not about shrinking the company. Indeed, in 2019, we expect to grow to more than 100,000 colleagues around the world," the company was quoted as saying by The Times of India.

SAP has 96,500 employees worldwide with at least 11,000 employees in India. 

"SAP is constantly changing to adapt to market and customer needs. As part of this ongoing transformation, SAP has decided to undertake a company-wide restructuring programme in 2019 across all board areas. This will allow us to invest in key growth areas while implementing required changes in other areas to ensure they are prepared for the future," SAP India told TOI when asked about the likelihood of the layoffs.

The company added that in case new job positions open up in the country, SAP employees would be given first preference.

When it comes to layoffs, the United States and Germany are expected to see the maximum number of employees leave. The branches in Europe, Australia, Asia and Africa will also have a considerable number of people let go.

To make way for a younger generation with a better grasp of change and the new age technology, the US, Germany, France and Canada are planning on giving early retirement packages to older employees as well as voluntary redundancy programmes.