Hewlett Packard Enterprise is planning to ax at least 5,000 workers, or about 10 percent of its staff, by the end of this year, according to a Bloomberg report.

Hewlett Packard Enterprise was not immediately available to comment on the report.

One of several businesses to be spun out of HP, Hewlett Packard Enterprise offers cybersecurity, enterprise Wi-Fi, cloud services, servers and other corporate technology.

Under CEO Meg Whitman, the company has been streamlined, shedding much of its Chinese business and consulting division.

But investors haven’t warmed too dramatically to the changes, with shares up just over 2.5 percent in the past year.

Whitman told CNBC in June that Hewlett Packard Enterprise was almost done with “one of the largest transformations in American business history,” and that investors would see fatter profit margins toward the end of this year.

For more on HPE’s plans, see the report at Bloomberg.com.

— CNBC’s Berkeley Lovelace Jr. and Jordan Novet contributed to this report.

Source: Tech CNBC
Hewlett Packard Enterprise said to be slashing 10% of its staff