Home HPE starts 3-yr cost reduction plan after Q2 hit by supply shortages
 

Keywords :   


HPE starts 3-yr cost reduction plan after Q2 hit by supply shortages

2020-05-22 09:32:00| Telecompaper Headlines

(Telecompaper) HPE reported generally lower results for its fiscal second quarter to end April, greatly hit by the global economic lockdowns enacted since February. HPE GreenLake provided a boost to the company, as did its Intelligent Edge Business in North America. But to help navigate the tough times, HPE started a new plan to reduce costs and prioritise investments and resources. Under the three-year Cost Optimization and Prioritization Plan, to run through fiscal year 2022, HPE aims to generate gross savings of at least USD 1.0 billion, with annualised net run-rate savings of at least USD 800 million. It also expects cash funding payments of USD 1-1.3 billion.

Tags: plan cost hit supply

Category:Telecommunications

Latest from this category

All news

28.02Fostering Leadership with the Fanatical Leadership Academy at Rackspace University
Telecommunications »
14.03Musk's Tesla raises concern over Trump tariffs
14.03UK economy shrank unexpectedly in January
14.03Car sharing switches to electric to boost appeal
14.03Exclusive: Every McDonald's in Britain warned of legal action over failing to tackle staff sex abuse
13.03Continental Refining Company targets Southeastern feed mills for cattle-formulated UltraBlend Soymeal
13.03Glenn Laursen Brinkman
13.03U.S. cattle producers hail new WOTUS guidance
13.03Judge orders Trump administration to give fired workers their jobs back
More »