Microsoft (MSFT) CEO Steve Ballmer said job cuts at the software giant are almost finished. In some areas, the company is actually hiring.

Ballmer was speaking at a news conference in Mumbai today. He would not comment on interest in buying German company SAP (SAP), according to a Bloomberg News story.

There is speculation that Microsoft would want to buy SAP becasue its business-management software competes with Oracle (ORCL). SAP is the second largest enterprise software company in the world and would help Microsoft sell more software to businesses and governments, DailyFinance's Douglas McIntyre wrote earlier today.

Speculation about SAP began after Redmond, Washington-based Microsoft sold $3.75 billion of debt in its first bond offering, adding to its $25 billion in cash. With $28.75 billion in hand, some investors would like to see Microsoft invest in its own stock, by buying back shares, or bid for a company, such as SAP.

Anthony Massucci is a senior writer and columnist at DailyFinance.