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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.
Lenovo Q4 results hit by Wuhan production shutdown, product shortages
2020-05-20 09:15:00| Telecompaper Headlines
(Telecompaper) Lenovo reported revenue for its fiscal fourth quarter down 9.7 percent year-on-year to USD 10.6 billion. The company was hurt by the shutdown of its main smartphone production site in Wuhan due to the covid-19 pandemic as well as slower sales at its main PC business. Operating profit fell 39 percent to USD 166 million, and the net profit was down 64 percent to USD 43 million.
Tags: results
product
hit
production
US hog futures surge as meat plants warn of pork shortages
2020-04-28 11:43:00| ThePigSite - Industry News
US lean hog futures rose their daily limit on Monday (27 April) on fears of tightening domestic pork supplies as the coronavirus pandemic forces slowdowns at slaughterhouses, analysts said.
Tags: plants
meat
futures
surge
US trade groups warn of C02 shortages
2020-04-21 16:25:00| Daily beverage news and comment - from just-drinks.com
Beer and soft drinks production in the US could be severely impacted by a shortage of carbon dioxide, a coalition of trade groups has warned.
Tags: groups
trade
warn
shortages
Smithfield shuts US pork plant indefinitely and warns of meat shortages
2020-04-13 12:13:00| ThePigSite - Industry News
Smithfield Foods, the world's biggest pork processor, said on Sunday (13 April) it will shut a US plant indefinitely due to a collection of coronavirus cases among employees and warned the country was moving "perilously close to the edge" in supplies for grocers.
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