(Reuters) -Hewlett Packard Enterprise said on Thursday it would cut jobs as part of a cost-saving program and forecast its second-quarter revenue below Wall Street estimates.
Shares of the company fell 14% to $15.50 in aftermarket trading.
The program is expected to be implemented through the fiscal year 2026 and aims to deliver gross savings of about $350 million by fiscal 2027, the company said.
The server maker projects revenue to be between $7.2 billion and $7.6 billion in the quarter, while analysts expect $7.93 billion, according to data compiled by LSEG.
(Reporting by Juby Babu in Mexico City; Editing by Mohammed Safi Shamsi)
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source: https://theprint.in/tech/hewlett-packard-enterprise-to-cut-jobs-forecast-downbeat-quarterly-revenue/2537318/
