Hewlett Packard Enterprise Co. (NYSE: HPE) announced that they will cut 10% of their work force totaling to about 5,000 employees, aiming to cut costs in a busy technology solutions market. Job cuts will start this year before 2018 and will affect their 50,000 workers both domestically as well internationally. Broad job cuts will also affect all levels of employees which include managers.
Ever since CEO Meg Whitman took over in 2011, she began cutting divisions making the company go through drastic changes. The CEO tried to position the company to better compete with rivals such as Amazon and Google where personal computers, printers, software units, and business services have been reduced. The company is setting a goal of $1.5 billion in cost cutting over the next 3 years after already laying off 120,000 workers between 2002 and 2015. Whitman split HP into two companies, Hewlett Packard Enterprise and Hp. HP Inc. announced 4,000 layoffs last year. Hewlett Packard stock traded up 0.91% to $13.91 at midday Friday.