Reported 1 day ago
Hewlett Packard Enterprise (HPE) announced it will lay off 3,000 employees due to severe challenges in the server market, leading to a nearly 20% drop in its stock prices. The CEO, Antonio Neri, cited issues like excessive discounting and poor inventory management that affected profit margins, resulting in lowered profit expectations for the current and upcoming fiscal years. Furthermore, HPE faces additional pressures from tariffs that could impact profits by $100 million.
Source: YAHOO