European software giant SAP joined the parade of tech companies laying off staff, announcing on Thursday that it was cutting about 2,900 jobs after the iconic US tech company IBM said it was slashing about 3,900 jobs.

These numbers add to the 150,000 jobs cut last year and about 30 per cent of that number that was reported by ComputerWorld on Wednesday. SAP said that the jobs cut would be about 2.5 per cent of its workforce of about 112,000.