Hewlett Packard Enterprise to Lay Off 10% of its Staff

Hewlett Packard Enterprise to Lay Off 10% of its Staff:

Master of share-buybacks and revenue-shrinkage does what it does best.

Hewlett Packard Enterprise, which blew nearly $2 billion on debt-funded share buybacks over the three quarters of its fiscal year 2017, even as revenues fell 7%, will do the only other thing that, in addition to share buybacks and revenue-shrinkage, it has been doing really well for years since it was still the full-blown Hewlett-Packard: Mass layoffs.

The company will ax about 10% of its employees. That would amount to at least 5,000 workers of its workforce of about 52,000. The cuts will hit employees, including managers, in the US and abroad, “people familiar with the matter” told Bloomberg.

H/t reader squodgy:

“More evidence that all is NOT ok.”

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