Economy

HPE cuts costs after disappointing quarter | Financial

Until the end of 2022, HPE hopes to make at least $ 1 billion in cost savings. The workforce will be “redeployed”. In addition, the company aims to simplify its distribution chains, marketing activities, customer service and product offering.

HPE posted sales of $ 6 billion in the second quarter of its broken fiscal year, down 16 percent from a year earlier. The company suffered a net loss of $ 821 million, partly due to depreciation of legacy systems.

HPE stemmed from the split of computer and technology group Hewlett-Packard in 2015, which also included the maker of PCs HP Inc. HPE focuses on hardware and software applications for companies. In addition, the company is facing competition from major cloud providers such as Amazon and Microsoft and is struggling with the larger Dell in the field of hardware.

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