Hewlett Packard Enterprise Co. (HPE) will cut 10% of its work force, or about 5,000 employees, in a move to cut costs in a crowding technology solutions market, Bloomberg reported.
Insiders said the job cuts will start before the year's end and affect workers both domestically and internationally. The broad job cuts will affect all levels of HPE employees, including managers at the 50,000-person company.
HPE has undergone sweeping change since CEO Meg Whitman began cutting divisions in 2015. Personal computers, printers, business services and software units have been reduced as Whitman has tried to position HPE to better compete with cloud providers Amazon.com Inc. (AMZN) and Alphabet Inc.'s (GOOGL) Google.
"With fewer lines of business and clear strategic priorities, we have the opportunity to create an internal structure and operating model that is simpler, nimbler and faster, Whitman said on a call with analysts earlier this month.
Finance chief Tim Stonesifer said during the same call that HPE set a goal of $1.5 billion in cost cutting over the next three years.
HPE stock traded up 0.91% to $13.91 at midday Friday.
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