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IT

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

Friday 22 May 2020 | 09:32 CET | News
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.

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Categories: IT
Companies: HPE
Countries: World
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