India, March 7 -- Shares of Hewlett Packard Enterprise fell around 20 percent in the after-hours trading on Thursday as well as around 22 percent in pre-market activity on the NYSE, after the data center equipment maker's first-quarter earnings missed the Street view. The firm also issued weak earnings outlook for second quarter and fiscal 2025, both below market estimates.
In its earnings call, the company further said it plan to reduce employee base 5 percent over the next 12 months to 18 months through the reduction of around 2,500 positions and expected attrition.
Antonio Neri, president and CEO of Hewlett Packard Enterprise, said, "Looking ahead, we see additional opportunities to take incremental corporate cost actions to further st...