HPE Plunges Most Since 2020 on Weak Profit Outlook, Job Cuts
1 week, 5 days ago

HPE Plunges Most Since 2020 on Weak Profit Outlook, Job Cuts

Live Mint  

-- Hewlett Packard Enterprise Co. fell the most since 2020 after it said profit in the coming year would be hurt by tariffs, weak margins on server sales and execution issues. The lower profitability is due largely to issues in HPE’s closely watched server unit, Chief Executive Officer Antonio Neri said in an interview. “The company’s cost actions, including job cuts, suggest meaningful inefficiencies.” Tariffs also weighed on the profit guidance issued last week by computer and printer maker HP Inc., which said it would cut as many as 2,000 jobs. In the fiscal first quarter, which ended Jan. 31, HPE’s AI Systems revenue was about $900 million, down from $1.5 billion in the previous quarter, the company said in a presentation.

Company Profit Quarter Job Cuts Hpe Neri Billion Server  job  profit  margins  cuts  plunges  sales  hpe  outlook  company  quarter  neri  2020  weak  fiscal  billion  server

History of this topic

Layoffs: Hewlett Packard To Let Go Of 2,500 Employees. See What Led To The Job Cuts
Trending News
2 weeks ago

Layoffs: Hewlett Packard To Let Go Of 2,500 Employees. See What Led To The Job Cuts

ABP News  

Hewlett Packard Enterprise is reportedly planning to layoff around 2,500 employees over the next year and a half, media reports said. In its latest earnings report, the firm said that its revenue climbed 16 per cent from last year, however, CEO Antonio Neri stated that their performance could have been better. Higher Costs, Profitability Issues, And More: Hewlett Packard's Obstacles …

Hewlett Packard Enterprise to cut 5% of workforce in cost-saving push
Top News
2 weeks, 1 day ago

Hewlett Packard Enterprise to cut 5% of workforce in cost-saving push

The Hindu  

Hewlett Packard Enterprise said on Thursday it would lay off 5% of its workforce, or over 2,500 employees globally, as part of a cost-saving programme and forecast its second-quarter revenue below Wall Street estimates, triggering a 16.5% drop in shares during aftermarket trading. HPE said it expects cash charges of nearly $350 million over the next two years tied to …

HPE Gives Weak Profit Outlook and Will Eliminate 3,000 Jobs
2 weeks, 2 days ago

HPE Gives Weak Profit Outlook and Will Eliminate 3,000 Jobs

Live Mint  

-- Hewlett Packard Enterprise Co. gave an annual profit outlook that fell short of investor expectations and announced plans to eliminate about 3,000 positions. Earnings, excluding some items, will be $1.70 to $1.90 per share in the fiscal year ending in October 2025, HPE said in a statement Thursday. The lower profitability is due largely to issues in HPE’s closely …

HP To Slash 6,000 Jobs Over Three Years As PC Demands Witness Decline
2 years, 3 months ago

HP To Slash 6,000 Jobs Over Three Years As PC Demands Witness Decline

ABP News  

After major tech companies announced layoffs, HP Inc is set to bring down its workforce by slashing up to 6,000 jobs over the next three years amid declining demand for personal computers that have cut into profits. The forecast takes into account a 10 per cent decline in computer sales in the fiscal year, chief executive officer Enrique Lores said …

HP to cut up to 4,000 jobs over next three years
8 years, 5 months ago

HP to cut up to 4,000 jobs over next three years

Live Mint  

Bengaluru: HP Inc. said it expects to cut about 3,000 to 4,000 jobs over the next three years, as the maker of printers and personal computers continues to struggle with a subdued market, sending its shares down 1.3% in extended trading. HP, which houses the hardware business of former Hewlett-Packard Co, said in February it would accelerate its restructuring program …

HP profit beats Street amid weak market for PCs, printers
8 years, 9 months ago

HP profit beats Street amid weak market for PCs, printers

Firstpost  

HP Inc, which houses the former Hewlett-Packard Co’s legacy hardware business, reported a better-than-expected quarterly profit as aggressive cost cutting helped counter weak demand for personal computers and printers. Revenue in the personal systems business, the company’s biggest, fell 9.9 percent in the second quarter, while revenue declined 15.8 percent in the printing division. HP Inc forecast an adjusted profit …

HP plunges after printer business underwhelms
9 years, 3 months ago

HP plunges after printer business underwhelms

Firstpost  

Shares of HP Inc, which houses former Hewlett-Packard Co’s legacy hardware business, plunged 16.3 percent on Wednesday Shares of HP Inc, which houses former Hewlett-Packard Co’s legacy hardware business, plunged 16.3 percent on Wednesday after the company’s lackluster results fueled concerns about its ability to weather a slowdown in the printer and PC markets. HP Inc’s revenue from both its …

HP rises as investors take positive view of cash return plans
9 years, 6 months ago

HP rises as investors take positive view of cash return plans

Firstpost  

Shares of Hewlett-Packard Co rose as much as 5 percent on Wednesday as investors cheered plans for the company’s soon-to-be separated but struggling PC and printer business to return more capital to shareholders than many had expected. HP, which has struggled for years in a declining PC market, also said it would cut up to 33,300 jobs over the next …

Hewlett-Packard Is Laying Off Up To 33,300 Workers
9 years, 6 months ago

Hewlett-Packard Is Laying Off Up To 33,300 Workers

Huff Post  

Hewlett-Packard CEO Meg Whitman speaks during the HP Discover 2015 conference in Las Vegas, Nevada, on June 2, 2015. Credit: David Paul Morris/Bloomberg/Getty Images -- Hewlett-Packard Co., which plans to split into two listed companies this year, said it expected to cut about 33,300 jobs over three years as the tech pioneer adjusts to falling demand. Hewlett-Packard CEO Meg Whitman …

Hewlett-Packard splits off PC, printer businesses
10 years, 5 months ago

Hewlett-Packard splits off PC, printer businesses

Hindustan Times  

Hewlett-Packard, the iconic US company that started the born-in-a-garage trend in Silicon Valley, announced on Monday that it was splitting into two companies. “Our work during the past three years has significantly strengthened our core businesses to the point where we can more aggressively go after the opportunities created by a rapidly changing market,” Meg Whitman, chief executive officer, HP, …

HP's slump deepens in Q2 as earnings fall 32 percent
11 years, 9 months ago

HP's slump deepens in Q2 as earnings fall 32 percent

Firstpost  

Hewlett-Packard’s slump is deepening as the world’s largest personal computer maker scrambles to meet the growing demand for more versatile and less expensive mobile devices. San Francisco: Hewlett-Packard’s slump is deepening as the world’s largest personal computer maker scrambles to meet the growing demand for more versatile and less expensive mobile devices. Whitman has repeatedly warned that HP’s revenue might …

HP's outlook disappoints, driving shares to 9-year low – Firstpost
12 years, 5 months ago

HP's outlook disappoints, driving shares to 9-year low – Firstpost

Firstpost  

Hewlett-Packard Co’s shares plunged to a nine-year low on Wednesday after Chief Executive Meg Whitman warned of an unexpectedly steep earnings slide in Hewlett-Packard Co’s shares plunged to a nine-year low on Wednesday after Chief Executive Meg Whitman warned of an unexpectedly steep earnings slide in 2013, with revenue set to fall in every business division except software. Wall Street …

HP mirrors Dell's bleak outlook, brokerages cut price targets – Firstpost
12 years, 6 months ago

HP mirrors Dell's bleak outlook, brokerages cut price targets – Firstpost

Firstpost  

A host of brokerages cut their price targets on Hewlett-Packard Co’s stock, after the No. 1 PC maker posted an $8.9 billion loss and narrowed … A host of brokerages cut their price targets on Hewlett-Packard Co’s stock, after the No. 1 PC maker posted an $8.9 billion loss and narrowed its full-year earnings outlook, echoing concerns raised by rival …

HP Cuts 27K Employees, Looks to Cloud and Data Analytics for Growth
12 years, 9 months ago

HP Cuts 27K Employees, Looks to Cloud and Data Analytics for Growth

Wired  

Hewlett Packard CEO Meg Whitman announcedthe layoff of 27,000 employees Wednesday, or 8 percent of the company’s workforce. The painful move is part of Whitman’s strategy to refocus the hardware and software giant to take advantage of what Whitman describes as “some of the biggest shifts in technology that I have seen in my career.” Those shifts include data analytics, …

HP Could Cut 25,000 Jobs Next Week
12 years, 10 months ago

HP Could Cut 25,000 Jobs Next Week

Wired  

Meg Whitman doesn't want to get rid of Hewlett-Packard's PC group, but that doesn't mean she's above making some cuts. According to a pair of anonymously sourced reports, Whitman is planning to announce some big layoffs -- perhaps between 8 and 15 percent of the workforce -- when she announces the company's quarterly financial results next Wednesday. Whitman has been …

HP: No longer a safe haven stock, but is it up for sale?
13 years, 7 months ago

HP: No longer a safe haven stock, but is it up for sale?

Firstpost  

The company’s shares fell 20 percent on Friday after a rash of announcements including a costly $11.7 billion acquisition, the killing of its tablet computer and a drawn-out review of its PC business that could lead to a spin-off. “Their numbers are deteriorating and they’re trying to transform in the middle of a really bad economy.” Analysts also questioned why …

Discover Related