Hewlett Packard Enterprise (HPE) shares fell nearly 20% in premarket activity Friday, a day after it shared plans to achieve roughly $350 million in run-rate cost savings by fiscal year 2027 through workforce reductions.
Hewlett Packard Enterprise plans to reduce workforce by 5%, or about 2,500 employees, over the next 12 to 18 months, the company said during the quarterly earnings call Thursday.
The company estimates cash charge of about $250 million in 2025 and about $100 million in 2026 to implement this cost reduction plan and achieve the target run-rate savings in 2027.
Hewlett Packard Enterprise also issued fiscal Q2 profit guidance that trailed analysts' projections, citing industry-wide "uncertainty" from the current US tariff policy. It expects fiscal Q2 adjusted earnings of $0.28 to $0.34 per share, compared with estimates polled by FactSet for $0.38.
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