HPE plans 5,000 job cuts: Bloomberg
Tweet
Share
E-mail
FILE PHOTO: A trader passes by the post where Hewlett Packard Enterprise Co., is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 25, 2016. REUTERS/Brendan McDermid/File Photo
(Reuters) - Hewlett Packard Enterprise Co is planning to cut at least 5,000 workers as part of a broader effort to reduce costs amid mounting competition, Bloomberg reported on Thursday, citing people familiar with the matter.
The reductions of about 10 percent of the company's total workforce of 50,000 are expected to start before the end of the year, Bloomberg reported. (https://bloom.bg/2xiAgYx)
The cuts are likely to affect workers in the United States and abroad, including managers, Bloomberg added.
The company could not immediately be reached for comment.
(Reporting by Ismail Shakil in Bengaluru; Editing by Jonathan Oatis)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Unions, advocacy groups sue to overturn US visa rule for foreign students, journalists
- Iran says its ambassador met four nationals detained in Kuwait
- Pennsylvania governor signs order imposing new rules to set up AI data centers in state
Create E-mail Alert Related Categories
ReutersRelated Entities
LayoffsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
